Section 8 could also work as a hybrid strategy here; the stable income is nice, and with good property management, it’s pretty hands-off.

While a small handful comes up tails and lose a bunch of money. 

On the other hand, I've been a lender for over 30 years and I can say for certain that past predicts the future when it comes to paying bills.

Your question is akin to : " I have a hot fudge sunday in my hand, should I set it down and go look for a banana split".

Prices are around $300K for what he's looking for (total costs around $2000/mo, and income will be around $4439/mo... but if he has 2 roommates each paying $700/month, it's totally doable. 

Though I can also happily talk BJJ, surfing and anything outdoors with a beverage in hand until dawn!

The insight about ARV being influenced by nearby single-family properties is gold—makes total sense now.Right now, I’m just exploring Sacramento and trying to learn as much as I can.

Use a payment processor to pay the original note and any wrap if there is a 2nd position secondary note that pays the seller the difference between their current mortgage and the total sale value. 

I've seen smaller guys do a good job on 49 projects in a row than totally blow it on the last project.

I assumed a total loan of around $90k with a monthly payment of just under $1,600 using a random SF property in Indy with a similar asking price.