Nevada is landlord friendly, low property taxes, and close to CA.

Typically 30Y fixed, refi into an LLC, low doc loans that don't report on your credit. 

-Setting Criteria: Defining specific criteria such as location, property type, Financing Options (Including Seller financing), and comfort level to narrow down options.a.

Only you can decide where your comfort level is, just make sure you understand the risk balance. 

I think it is dependent on your comfort level with the tenant. 

Prices soften a little....but no where close enough to offset increased borrowing costs.There are basically two logical flaws that lead people to the conclusion that rising rates equates to equally low prices.1) They assume that other investors have the same borrowing costs that they do.

I don’t mind having equity in my properties, but I would like to keep the equity values as low as I can so I can deplore more capital into other projects.

In most cases quality PMs wont do super low level areas, leaving incompetent bottom feeders.

Especially on a low-cost house like that...not much room for a $10k error, right?

I know some investors who invest in low end rentals will just tell their contractors "make it rent ready," or whatever.