We have a few markets we target outside of California, but obviously if you want to stay close to home, Sacramento would be an ideal choice.

As others have stated, your fit & finish goals should be guided by whether you plan to:1) Rent: tenants don't always take care of a property, so you want to use lower-grade materials and workmanship.2) Flip: higher quality on workmanship and materials is usually required.Regardless, you always want to "Maintain to the Neighborhood".

Greetings and stay focused and united. 

Stay educated on Florida market trends and BRRRR success stories.Good luck!

Look into Baselane it’s designed specifically for real estate investors, You get automated rent collection, expense tracking, it makes it easier to manage properties, stay organized, and keep up with your finances. 

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

What tools or strategies are you using to stay ahead of the game?

I’ll stay tuned to see what comes about about of your question though. 

If you close to the university, I might give them a call and see if they have a database that they use for places for visiting professors, etc can stay.

It’s never as simple as it first appears, which is why we always advise our clients to let the math guide the choice.