Check out the Reno, NV market because of the proximity to CA, landlord friendly and low property taxes.  

All of the above going well: Great job, but if you're getting blown up with requests and showings and applications it means you probably priced your place too low and you should consider increasing the asking the next time. 

Buy and hold in one of the A class areas in Baltimore, if you are going to do Baltimore, it’s the only part of the city that has growing population, and rehabs are extremely tough right now especially with no experience, I’m doing one right now on the eastern shore, basically cosmetic, was built in 1994, systems, plumbing etc in good shape, labor is even less than Baltimore, gc-ing myself, still running me 70k, materials are insane right 3bd 1ba, mid tier Lowe’s stuff (I’m even putting in a shower insert, no title) is running over 30k.

I will agree that the terms/leverage may not be favorable with a lower score, but with experience you may be able to achieve 75-80% LTC with a low FICO. 

At least in our market, we've already had a correction that appeared to bottom out in Q1 of 2023 when sentiment was at an all time low. 

Interest rates, retirement numbers, low inventory and covid relocation caused a lot of the price increases in the past few years.

I'll play devil's advocate, at that price you might as well invest in multifamily units. 3-4 unit properties are selling in the low $200K and with an average rent of $700/unit, you get better cash flow and spread out risk (1/3 units vacant versus the house 100% vacant.)You do your inspections and make necessary improvements upfront to offset the risks with buying a "used" property instead of brand new construction.Alternatively, how much of a price difference between new construction and a remodeled home?

The second property will be purchased with a mortgage (you can determine how high or low the leverage will be by adjusting the proceeds you use or the price point of the 2nd replacement).You are adding some measured debt at a level that your dad can be comfortable with. 

Inventory is low and people ideally want SFRs.

If you're managing the rental yourself, you'll need to have a plan for handling maintenance, cleaning, and guest communication.