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!)

The yard looked like trash, plumbing stack leaks and multiple water heater leaks.

Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

ARV 900Total reno was 170k Appraisal $399.00 Shut off valves $95.75 paint $300.18 Commeercial enzyme cleaner $72.09 Water activation fee $51.38 shut off valves $38.52 Kilz restoration primer $275.66 Kilz restoration primer $150.33 Shower tile-Master.

Because it is always changing, but not always warming.....gotta cover your bases y'know.... 

@Marc Robinson what's the lot rent, who pays what utilities and what's the source of the water and sewer?

And if you base an offer price on that, you'll likely have an extremely difficult time getting any traction. 

If you can manage to keep up with the real estate market in these markets that we have come to hit, and still be able to navigate the unchartered waters.

Reason why is if you go to sell it, people are not going to comp it based on 40 year loan.

Permit eligibility is based on region (usually the west side of town) and density (quantity of surrounding STR's in the area) as well as percentage of landscaping and minimum parking requirements.