You can use this property to hedge any others that you add that may only cover themselves, or require supplement until they are paid off.HOWEVER, if you have decided that your goal is to use Real Estate as a stepping stone to build wealth by upgrading the property you hold each time (condo to house, house to 4-plex, 4-plex to 8 unit, etc) then I think you are right to sell now while you think the property is at the top of it's appreciation.It will be hard for anyone on BP to tell you what to do as we don't know your goal.You are right. 

That should cover 2 rental income periods, returning $660 to your pocket.

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.

Cover my basis and send to the rental and the 2 addresses the one tenant provided via text? 

What is the cost, and what does it cover?

If the property is able to cashflow at all or at least cover all expenses I would keep it.

Seller Financing OptionsSince the seller has struggled to move the property, they may be open to creative terms:Low or No Down Payment with Seller Carryback: Offer a seller-financed deal with a low down payment and interest-only payments for a set period until renovations are complete and cash flow starts.Balloon Payment: Structure a deal where you pay interest-only for a few years and refinance or pay a lump sum at the end.Master Lease Option: Lease the property with an option to buy, using rental income to cover expenses and fund renovations.2.

We specialize in investments but cover all things residential.

There will not be one PM covering all the places you mention in your post, so maybe refine your search a little, and then you can start interviewing.

That being said my residential rental will have a positive cash flow of $500 and I plan to rent out this other side of the duplex immediately and will have a balance of 600 to cover for the mortgage.