Even a small increase could make a difference in cash flow.

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

However, on the renting side, we have seen an increase in inventory of days on market too. 

House hacking is a financial no-brainer, it eliminates you single biggest monthly expense, so you can increase your savings rate.

It is essentially the last town before the pass.Regarding what @Lisa Marie said, there are is a ton of good info in there but for your needs, you need to increase the cost to clean.

Relative AffordabilityDespite recent price increases, Buffalo’s housing market remains more affordable compared to many other U.S. metros.

Cash flow has been hampered by an increase in cost of ownership recently, specifically insurance. 

I will say though if this is your only option and you're confident in finding a deal below market value, then it might be worth it.  

Start with one property to gain confidence before scaling.

Someone asked if hard money loans were secured by property, and the answer was no, so that did not instill a great deal of confidence.