I've been investing out of state but want to jump into the Sacramento and Stockton markets as they are more affordable than SF Bay Area. 

I could finally afford to leave manufacturing and go all in with real estate.

What's nice is with these loan limits you can buy the properties in areas you feel comfortable owner occupying and 5% down is pretty affordable. 

And saying that they can't afford it. 

Some of them probably live in the units and may be underwater but can still afford the HOA / Taxes but  do not have the resouces to move out / buy somewhere else.Even if everything lines up, I would challange you with why would you want to de-convert.

Google "can the average worker afford the average house in Orlando"?

Most major metro areas have pockets that are surprisingly affordable, and you might just need to network a bit more and meet some local folks who can guide you. 

However some brokers will also point you to a more affordable choice.Hope I helped !

Figure out what investors need, or where their frustrations lie.

Now we have to figure how much it will cost to complete the scope of work to get to the target ARV.Then, how much return are you needing.Holding costs and brokerage fees.Work it backwards and you will know what you can afford to pay for the property.