@Erin NewtonI understand this was a quick calculation but don't forget to account for the other operating expenses, utilities, capital expenditures etc.

It was also a surprise because this was a "as-is" property and when we got in we saw there was extensive flooding damage in the basement.  

My strategy will be to BRRRR, so was just wondering people’s thoughts on utilizing multiple deal finders in the same market?

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 :-)

We were under contract on a property pretty quickly but after numerous extensions the deal fell apart. 

Its in a B neighborhood  and is a C property (Just for a backdrop)Asking price- $239,900Taxes- $3,085/yearInsurance estimate- $840/year Income-$2,200/month Down payment and rehab -$30,000 all form an equity line btwinterest rate - 6.25% (7 year ARM)Utilities payed by tenet Will be self managed At full ask im looking at a 9.4% Cash on cash return.

Idea would be to restructure terms and give a 2 year extension of I/O payments for the borrower in hopes he could secure financing.

If your Modified adjusted gross income is $150k (if married) or lower then you can utilize any rental losses taken (that $1,700 will overall reduce your tax liability) However if your MAGI is over that, the loss will carry forward to next year. 

Since we launched the last year has been solid  - Since we have lived on the property it only would cost us around 50 extra a month for water and utilities from what we were already paying.

However, this is the military forum so I will add this: If you were moved out of the area on military orders you get a 10-year extension on the 2-in-5 rule.