@Rebekah L Bunn  So the house could be worth $624k, or at least $500k for a quick sale, and the contractor will let it go for $335k - only because of a $3k electric meter? 

Between work related stuff, conventions, friends/family visits, pro/college sports, kids travel sports, concerts etc etc there are a billion reasons why people visit places like Sacramento and other cities that aren't your typical vacation destinations.

The max HUD rent in your "typical section 8 neighborhoods" is right in line with market rent.

If so, you're in the market for a typical midterm tenant of 30-90 days.

The home needs pretty major renovations, but in my opinion would be worth it *if* the seller is willing to come down significantly on their asking price.

That's sounds great, something worth trying.

You will need income of $200K+ typically to qualify for something like that.

If you were getting a mortgage, typically the borrower has to have some money to put in (downpayment).  

Most get bid up too close to full retail to be worth the risk but every week I see one or two properties go at a bargain. 

So if you make one connection to a private money lender and they do ONE deal, it is worth it.