I'm 100% invested in the greater Sacramento area as an investor and agent, so I might be a bit biased:-) Sacramento is the #1 place people are relocating to from the bay area, so we have seen demand be extremely high, vacancies low, and rents have risen considerably in the past 3-4 years. 

Great Real Estate Agent in CA & OR and has a Niche portfolio of cash flowing listings.

Cash flow is all anyone talks about but you're saving $1,100 of your income to reinvest in something else, it's not the end of the world to not cash flow (in my opinion), so good on you! 

It is a huge market, but still room to stand out and cash flow if you are willing to run it like a business. 

Hi @Matthew Murray, if your current investment properties have a low rate, I would think twice before refinancing them since today DSCR loans are around 7-8%, and this could affect your cash flow.

While you mentioned understanding the implications of a lower rate and no PMI, here are some questions and considerations that might help you make a more informed decision:Cash Flow Considerations: How does the choice between a 5% and 20% down payment impact your monthly cash flow?

Is it pure cash flow or building long term equity, flips to buy lots of gold chains, etc...

The single-family home would allow more comfort, while the multi-unit would allow more potential cash flow. 

Hard money is NOT going to accept that risk they will want 40%-50% down minimum with your 100% financing plan because it cannot cash flow and if the value drops a tiny bit there is nothing there.

But you can never know the exact best time to sell (or buy).When price corrections happen:      1)   Some investors will lose their properties due to no cash reserves, or no credit reserves.      2)   Some will lose them due to lack of knowledge or not having a market appropriate strategy.      3)   Some of them will lose them because they over-payed, or bought negative cash flow properties, or bought properties they don’t know how to manage (or have a good manager for).Good Luck!