I am in CA, thus an out-of-state buyer.Per MLS (at asking price), P/I is $597; Prop tax is $139; Ins is $35 = $771 of known monthly expenses.With 10% Cap Ex ($170) and 10% Property Management ($170); my initial calculations were:Monthly gross of $1,700 / $20,400 Annual ------ NET: $589/ mo ; $7,068 / yr = Cash-on-Cash 23.56%My financial situation:  I have about $30k in various accounts that I can use as a down payment.

There are definitely opportunities to improve your chances of purchasing a property as an agent but you have to remember in California it will cost approximately $5,000 a year to maintain your license.How long have you been a pharmacist? 

For example - here in California a landlord has to give the tenant a 30 day notice that the lease won't be renewed. (60 days if they've lived there for more than 1 year.) 

I don't have anyone to offer you as a reliable service provider for someone in CA.

Those states include: Washington, Oregon, Idaho, California, Utah, Arizona, Montana, Colorado, Wyoming, New Mexico, Idaho, South Dakota, Nebraska, Minnesota, Arkansas, Minnesota, Michigan, Indiana, Kentucky, Tennessee, West Virginia, North Carolina, and New Hampshire.

We have purchased 5 properties since last December - two in AZ, two in FLA and one in CA. 

Depending on your financing, you should be able to find cashflow.I just sold this home here at the bottom end of your price range, and it would rent for $1,800 to $1,900/mo easily:https://www.redfin.com/CA/Sacramento/3928-23rd-Ave-95820/home/19407351With 25% down and a 5% interest rate, your PITI would be $1,366 which leaves about $500/mo gross cashflow before management, utilities, repairs, etc.Have any other specific questions about the Sacramento market, just ask and we'll try to get you pointed in the right direction :-)

The situation:-I have one rental property right now and am looking for a second -My parents are divorcing and want to sell their 3bd 2ba home but still owe $470k on it. According to zillow, it's worth around $535k, so...

This is in Southern California, Los Angeles County.Your sage advice is greatly appreciated!

New Investor here, Question: Wholesaling, Assigning, Double Closing, LLC Assignment in Southern California in Summer of 2018.