Millennial also all first came into the housing market while they watched their parents lose their asses, they make life long renters, also the baby boomers...they are downsizing, want an ease of living and don't want the maintenance...great renters.

Here are two posts that cover the local market:https://www.biggerpockets.com/forums/621/topics/398662-heres-what-fixer-uppers-on-the-mls-are-selling-forhttps://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushIn sum, buy and hold is looking good (particularly 2-4 unit multifamily)  and flipping is ultra-competitive and you're really going to work to find a deal.Check those posts out and then let us know your thoughts and we'll be able to help guide you further in the right direction :-)

Right now there is a huge surge of Millennials moving from the Bay Area to Sacramento, which is driving up prices and rents like you wouldn't believe.

Interesting article on the future of REI and the changing rental market from Morgan Stanley.https://www.morganstanley.com/ideas/millennials-generation-z-housing?

I have an applicant for my one-bedroom shared condo who lists his job as a property manager for a company that he owns.This property generally attracts college students and millennials just starting out.Why would a 50+ real estate professional want to rent from me?

If you’re optimistic I could see saying something like having a good strong market for the next couple years with maybe a small blip, but to go out further is just absurd.I do think millennials will start buying more houses in the next 5 years or so and that will keep a strong demand for housing

The amenity allows residents to list their units short-term, it's very popular amongst millennials and those who grew up around Airbnb. 

****************************Property Investors Follow Millennials to the Hot Mountain States Wall Street Journal By  Konrad Putzier  Nov. 26, 2019 7:00 am ETForget Brooklyn and San Francisco.

I've been listening to the podcasts, reading Rich Dad Poor Dad and other various real estate books, and I have found fresh determination to get in control of my life instead of letting life control me.However, I want to throw out there that I'm a typical middle class millennial who fell in the "go to college and get degrees that won't make you a lot of money" trap.

Since apartment rents currently aren't that much lower than house rents, with the long term for rental demand by the Millennials and retiring Boomers looking very strong, you'll get closer to the kind of cap rate that you're looking for.