There are also some excellent opportunities within the areas surrounding Central Sacramento that can be much more fruitful in yielding a stronger return while limiting the upfront investment. 

I've switched to marketing directly to sellers, which has been more fruitful.

Most properties are not free and clear and are highly leveraged so the payment to the buyer becomes actual carrying cost (PITI, HOA, maintenance and repairs, etc.) plus any juice you want to add.

The percent return looks ok on paper as a percentage but 80 bucks per tenant with all the risks they pack in the unit seems like the proverbial "juice is not worth the squeeze effort"

There is probably easier fruit to pick.

If I can choose my appraiser, why not hire my buddy, cousin, sister, etc. and have them juice the appraised value for me?

making it less than fruitful for the average person to play!

If you do this and maintain a big picture mentally, your partnerships will be fruitful. 

I wouldn't be surprised if you decide to look for lower hanging fruit before venturing off to court-confirmed sale, though.

MLS is not fruitful- inventory is low on these tear-downs and demand is high.