You can also list those rentals in the MLS with a realtor and probably find quite a lot of traction, as there are many home buyers who sold their home and need a short term place to stay (1-6 months typically) until their new home build is completed and utilize their realtors to help them find something. 

Not at this point, I am looking at short term 6 -12 month loans and if I understand hypothecation it works better with longer notes. 

If you buy a condo in one of these locations and rent it out short-term, does the condo complex usually handle rentals, or do you need to find a manager?

Once you have a short list, get an account with each one and run them through the wringer to see how they function.

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...Short-Term Rental Loans: What Are the Options and How Do DSCR Loans Stack Up?

We are targeting West Sac, Natomas, Oak Park, and some other areas of Sacramento metro. 

Because I do not want to operate this as a short-term rental, I'm not sure how many college students would be interested. 

We are waiting for your comments, thanks in advance!

We are very good at saving so can prob build it back up fast.

We are taking advantage of two new tax saving opportunities that require some additional research and paperwork on our end.