I agree with you that they would usually be better off buying in A and B neighborhoods unless they live locally and know what they’re getting into.

Beyond that, real estate is largely local; in my market we are not seeing anywhere near those numbers.

Staging your house well can help you attract more attention from buyers, which ultimately helps it sell faster and maybe for a higher price than an unstaged home (see visual):What Are My Staging Options?

@Nitesh Chand check your state & local laws!

With that in mind, my first idea was to buy a condo or a house in my local area (Palm Springs, CA) and use it as a long term rental. 

There are a couple REIAs in the Tri-State area, but none of them are backed by the power of BP and the incredible people that it tends to attract.

The metro’s unique road system has attracted companies, including Uber, to test new automated car technology, bringing many high-paying jobs to the area.”

You need a local/state specific lease.2.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)

Just be sure to check local regulations because some spots are cracking down on STRs.