Any of these incorrect assumptions will lead to over paying for the real estate.

In addition to the Income 3x rent metric, I go a step further!

In fact, just finished one that I have yet to put on the market. 

If you ever want to get into a tenant nightmare of costly potential litigation become a landlord, have the ac go out in Phoenix in July, and inform the tenant that you just don’t have the funds to replace it!.    

@Lou Cautero - I'd be happy to talk with you and see if we have any common interests.

Happy to go through some details on that if that'd be helpful.

I intend to add a closet to the den and make it a 3 bedroom adding value as well as remodel the entire unit.

Quote from @Adam York: Contact your insurance provider and let them know you intend to rent out the home.

It doesn’t cost you anything and gives the tenant time to rearrange their entire life around your decision. 

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.