Just search the numerous threads for "appreciation vs cash flow" for reams of information on this (admittedly) far ranging topic.

Often times putting in an offer before the potential seller has decided to sell, makes your offer very very attractive. 

While the BRRR strategy is attractive, you will have to find a "deal" that will fit into the model.

I may be kicking myself if/when we hit another big downturn but I don't see anything out there right now that looks more attractive. 

The direct to sponsor model that bypasses a layer of fees tends to attract higher quality folks.  

They are currently leaving the area in droves.For many Bay Area residents, Sacramento offers affordability and enough of a "big city feel" to make it an attractive alternative to the Bay Area.

Our property is in a good school district and a decent neighborhood, so I believe we can attract quality tenants otherwise.We've considered the idea of putting of fencing down the middle of the back yard or something similar.

Now you also want to assess the security of your investment.Following my example above, maybe the $200k property is located in a great area which will attract great tenants and support potential appreciation.

I am just taking the slant of how an investor looks at these deals.. as I have been working with investment funds and investor for many decades... so I kind of have a pulse on how the majority thinks about these deals.. and as such again my personal opinion is buy and hold is not that difficult to do by any stretch so the value proposition from the work partner is not that valuable given a mere 10% return on 100% investment into the deal.. just is not in the real world of attracting a capital in any appreciable amount.. 

If there are issues when they go to move they'll have to dig into their own pockets for the difference.From a landlord standpoint, many people are trying different things to market their rentals to attract would-be tenants.