If you don't have the reserves left over in case of emergency, then it's definitely not worth holding on to as a major capex or a couple more evictions would easily sink you.

That $200 times 3 months is not going to add up to $8,000, and these are the very same people who have very small emergency funds to begin with. 

I don't think rents will stabilize so fast ,the trend is just emerging of working from suburbs ,in my humble opinion it will reverse back but changes take a while to overturn and hence it could be a buying opportunity for MF while this trend of working from suburbs holds on ( it might take 2-3-4 years to turn back maybe ).

With renters owing thousands of dollars in back rent to landlords since the pandemic started, the Los Angeles City Council announced an additional $259 million for its COVID-19 “Emergency Renters Relief Program.”

Maybe think of putting 1/2 down so you have a minimal loan but you also have cash on hand for emergencies and then as you can make larger payments.

In the ideal case, there be a "new California" emerging somewhere in the next 10 years.

It has to do with your current level of understanding or threshold, your resources (attorney, PM, Lender, handy people, contractor etc) along with capital on hand (cash to purchase, renovate and emergency funds), current life situation and life Style, and short term and long term goals.

I've focused on learning, growing, paying my rental mortgages, and saving for future investments (as well as saving up a 6 month emergency fund for each property).All 3 of my rental properties were house hacks that I purchased through the use of VA Loans (I'm a veteran).

Here are some of my favorites:IRR's Annual "Commercial Real Estate Trends" ReportPWC's Annual "Emerging Trends in Real Estate" ReportCBRE's Biannual "North American Cap Rate Survey" ReportRCLCO's Quarterly "State of the Real Estate Market" ReportMarcus and Millichap's Annual "Multifamily Investment Forecast" ReportIf you search for those terms in Google, you can find and download each report.But you always want to perform your own analysis, looking at factors like unemployment, population and population age, job diversity, top employers, and supply and demand data (new construction, vacancy rates, median rental rate, etc.) 

After you purchase this property, you're going to need a emergency cushion.