There are requirements in the middle here that have nothing to do with the estate and are controlled by the lender as @Lynn McGeein said.

To locate properties that meet your requirements, make connections with wholesalers, other investors, and real estate brokers.When investing in real estate, especially if you want to keep the properties as long-term rentals, positive cash flow is crucial.

Will you have enough equity in a couple of years if rates go down in order to meet the LTV requirements of the new lender?

This requires us to do periodic "maintenance inspections" and we keep an eye out for rental agreement violations at the same time.Hope this helps!

There are provisions for owner-occupied and non-owner occupied STRs in Sacramento : https://www.cityofsacramento.gov/finance/revenue/short-term-...The latter requires a conditional use permit but I don't see any info about that in the website.

In order for us to accurately answer/direct you to a loan product will require more information. 

I would definitely require a long term lease unless it's specifically designated as a mid term.A 5b house can be difficult to keep rented.

Compared to an FHA loan, a conventional loan with a 5% down payment can have a cheaper monthly mortgage payment.When buying a single-family house, factors to take into account include your financial status, long-term objectives, and required down payment.

Most lenders require a portfolio of assets to be within the same county.

I would have to do a 5% conventional loan to avoid the self sustainable test required for an FHA loan.