Seems that these are often ridiculously cheap - but I'm thinking the market knows more than I do and they are cheap for a reason.Churches are often beautiful buildings in great shape, but are very awkward to convert into a SFH or apartments.Schools tend to be large projects requiring significant resources to remodel into apartments or senior facility and can be either in decent shape or quite run down.Masonic halls are often very similar to commercial buildings but usually need a lot of rehab.Also many of the bargains are in economically depressed or low/no growth areas.But still the price on these can be so low that getting positive cashflow should be easy.And there may be LIHTC (low income housing tax credits) available - anyone managed to snag any of those?

The growth is supported by some very strong fundamentals. 

Yes, the ability to find great deals appears to be a combination of art, skill and sheer determination.

Here are some articles I've written about Sacramento to help get you up to speed on the market:https://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushhttps://www.biggerpockets.com/forums/621/topics/586279-investing-in-sacramento-or-stockton-which-one-is-betterhttps://www.biggerpockets.com/forums/621/topics/585796-sacramento-rent-control-101-everything-you-need-to-knowhttps://www.biggerpockets.com/forums/621/topics/590913-rent-growth-in-sacramento-is-triple-the-national-averageFeel free to ask any questions about the Sacramento market or the investing process of buying and selling real estate and we'll be sure to get you pointed in the right direction :-)

-Peter Arboleda I'm not sure your ability to make an offer right when it gets listed is an advantage.

Typically the people that are parts of these groups hate change or growth of any kind.

Would a refinance restrict my ability for a HELOC?

I am targeting long term growth, which will hopefully open up other avenues for me.

I think Reno probably has more growth than Vegas because they are becoming a manufacturing and logistics hub. 

He knows my plan to purchase another investment this December and to continue that growth.