I am not sure what your budget is and what your investment objectives are.
However, if your budget is around $100k, then I would suggest south Sac (95823), Meadowview (95832) or Florin areas. Here you can find good rentals at a reasonable price.
If you have a higher budget, like $200k, then you can find newer homes in areas with good school districts, etc. e.g. in elk grove, which is hot right now. Most desirable listings will get multiple offers.
Generally the better areas (demographics, income per capita, etc.) will give you lower yield, but better appreciation potential. The cheaper areas will give you higher yield, older homes, more maintenance and perhaps lesser potential for appreciation.
As far as financing, just contact any bank, Chase, Wells, etc. They will be able to provide you with a non-owner occupied investment loan, with low rates, as long as you have good credit, good income, etc. I know at Wells, they know loan up to 10 properties.
If you do not have documented income but good credit, there are alternative lenders.
The worst case would be getting financing from hard money lenders, expensive, but easy to get.
Tax wise, there are a lot of benefits of owning rentals, just google this, I am sure you will get results, e.g. :
Hope that helps,
Call me if you have any further questions.
There are many great rental areas in Sacramento. There are many areas that are getting multiple offers on listings as well, so I would suggest you try and stay away from those areas--especially Elk Grove.
What are your goals for this rental, cash flow, equity building while your tenant pays rent, condos are cheaper priced, but have HOA fees that cost money--do you have a monthly income goal from your property?
95821,95822, 95831, 95610, 95827,95826,95825 to name a few zip codes, are all good areas.