So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

I’d like to connect with you and others about buying a home near Cold Springs (Toulumne County)  to turn into STRs (permit process, cash flow expectations, etc.).

If your goal is day-one cash flow, the current high interest rates will make it very difficult.

With the tech I am using (a lesser known PMS) I am able to automatically screen guests, get their selfies, write leases, and collect deposits in my work flow even for Airbnb guests.

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

Sounds like you may look at a cash-flow approach in this scenario. 

Don't do a 15 year mortgage if you're worried about cash flow.

A 20% down payment will allow you to have a positive cash flow, even using conservative projections and a property management company.

To get started, define your investment strategy, run cash flow and ROI calculations, network with local investors, and explore financing options like DSCR loans or HELOCs.Good luck!

You’ll face hurdles like maintaining a steady deal flow, securing funding, managing renovations efficiently, and optimizing your exit strategies.This guide highlights key strategies for investors looking to transition from single deals to a scalable, volume-based distressed property investment model.1.