Best way to think about hard money is as a bridge loan.

Then, if you are able to narrow your search to a few specific areas in the Sacramento region, an analysis may be ran to compare past appreciation of those areas.

I'm in the knowledge gathering phase - more time I spend here in BP and other online sources, more I am realising there is a lot more to this than simply buying something off of redfin and renting out

It does not have to be a one to one exchange or a asset class to asset class.

I found this one on realtor.com by doing a search that only showed me properties with asking prices no higher than $150k

Seconding what @Max Wilhite said, Multi-Family is a great way to get started.

I am new and in my beginning stages.Hey @Michael Goddard, welcome to the BP Forum!

As a tax professional I would recommend going with a specialized independent attorney. 

Quote from @Adedotun Kembi: Quote from @Jeff Roth: Hi Holly from Georgia-You own a rental in Colorado and you are looking to purchase a new primary residence and possibly use the equity in the rental for the downpayment.You have two options I am aware of with the rental to access the equity:1.

This is my personal opinion, which probably won't be popular.If you are worried about the cost of hiring an attorney to create a proper operating agreement for your LLC, you probably don't need an LLC, and if you choose to use an online site to create an LLC, you probably get the protection you paid for.