Every seller claims to have "great rental history" and "low vacancy rates"  but I am wondering if this is true in an area with a declining population and what seems to be a saturation of multi units on the market.. 

You can consider wholesaling or use it to partner with another investor or two although that amount might be too low for some.

Worst case scenario, how low would rent get?

You've a great low interest mortgage that you can take advantage of. 

Much had to do with a rash of established owner deaths, compounded by foreclosures piling on the "low" end, but more "normal" sales at the higher end the past year, most recent listing are right where I hope to be. 

I saw somewhere to use 2% for the future assumptions which I don't know if those might be high or low or if it is a good number to use. 

The reason why Walnut Creek and Pleasanton/Dublin are more expensive is because they are low crime areas with good schools, also when you go there the feel is completely different from Hayward.

I would want a minimum of 10%.   8.34% for Cap Rate is also low for a “C” property.  

I'm considering relocating in the near future strictly for the purpose of investing/building a portfolio of rental properties.I'm specifically interested in using the BRRRR strategy on residential 2-4 unit properties and 5+ unit commercial deals.I'm looking for assets in desirable C+/B- or better areas so no section 8, high crime or low income type of neighborhoods.Rents must meet the 1% rule and I'd like to cash flow $200/door after refinancing once the property is rented/stabilized.I'm trying to find a market where deals are more readily available than here in South Florida where it's very competitive.If you were gonna pack up and move somewhere strictly to invest in rehab/value-add multifamily where would you go?

If it takes 30 days you can close faster, but it never seems to go as fast as we would like.Another option would be Seller finance on like a 3 year balloon with a low interest rate.