If it went any higher the argument for renting would become even stronger.The opportunity cost of tying up all that cash, time & energy is almost never worth it.One of the only times it makes since to finance your primary residence is when you know you are buying a property substantially under market, and reselling it.

You may be able to reduce expenses through energy savings, appealing assessed values, shopping for utility providers, etc. 3.

There's reward in distress, but if you don't have the time $$ or energy for that, then looking via a RE agent for MLS properties that only need $10k worth of rehab is the way to go! 

I think you should take your time and energy and put it into interviewing Property Managers to find the right one for you.Is your property going to be in Lake Tahoe area?

This way you don't need any loans, you get to grow your equity/experience/income with every house, and the passive investors get your time/dedication/growing expertise/energy/and an inflation resistant investment. people want good investments, the Horse, but they mostly judge that by the earnestness/ambition/expertise of the Jockey. good luck :)

It is completely finished except for the electrical utility hook up.  

remember your first home is not your forever home, it's your first rental so it doesn't need to be everything you want.look for homes where the bones are good, but cosmetically needs love. don't by pre 1960 if you can help it. you'll end up just having to replace all the guts like plumbing and electrical at some point. it's inevitable. look in areas where the path of growth is headed, but might not be currently. think 5 years out. look for resources like your local chamber of commerce to see what businesses are coming in and where. your city planning office should also be on your call list as they can help show where most permits are being pulled for development. follow the money. go to local investing meetups. crowdsource local knowledge and form meaningful relationships. those who've gone before you typically will help out and help you avoid the mistakes they've already made. onward.

Then put $80k into it for roof, electrical and sewer upgrades.   

This part of the content highlights the benefits of green buildings, energy efficiency, and how these practices contribute to property appeal and valuation in the long term.Preparing for Market Fluctuations: We conclude with a look at preparing for future market fluctuations.

I’m relatively new to the real estate investing world and continue to focus a lot of energy on education.