This is a massive loss maker based on; low income area you live an hour awayrent only covers mortgage, taxes, insuranceLow income tenants is a specialized area. 

Buffini Referral Maker has recently made some huge upgrades and is worth looking into (don't believe their pricing, they'll offer you a discount).

If you're on a budget I'd consider the old part of Elk Grove or Oak park (for our purposes Oak Park = Oakland...nice downtown, near the grid, but still a long way to go).Not familiar with Costa Hawkins, but Sac Business Journal and other local publications interview county decision makers who, at least publicly, say rent control is not a likely option. 

If you're playing match-maker, do you need an agent to close still?

Buy & Sell them cheaper & maker offers faster. 

The only way to make "real" money in this country is to own the business, be in sales, or wheeling and dealing in investments of some type.

As Sacramento_Steve lays out, this is never a money maker at the current price.

The house will need all new paint and carpets to make rent ready.

Local banks are staffed with decision makers who know the local market and have a vested interest in the improvement of the local market.

Asking: 49kOwner will accept: 40kNeeds about 8k to make rent readyNeeds about 20k for retailARV: 125kI want to buy and hold as a rental, however I do not want to get stuck sitting with a HML @15% interest and I know most lenders won't lend on a property under 50k.