As for the areas to target, my goal in getting our feet wet as real estate investors--and since we plan to be living in Sac--is to find a property we can live in while renting out one or more units to help cover our housing expenses, which we can then hold and continue to rent out when we move.

I came across a 2-flat with a basement that has been converted into garden unit with 3 bedrooms and kitchen and bath.

I'm currently adding all of my numbers for a 20-unit apartment building in for a test, and then I'll bring my other 90+ units.

5 units+ could be a good place to get started.

I am not a PM, but I do self manage about 50 units.

Nick,Between Dayton and Middletown those are two great spots to buy a 2-4 unit in as an investment rental.

Best of luck with your 6-unit deal and future investments!

My worse appreciating unit has appreciated $2700/month over its hold.  

We see mis-listed units all the time, but occasionally there's actually an additional one per the assessor. 

First recognize that 2 to 4 units are valued on comps and not cap rate.