@Yael DoronIf you're working with a $150,000 budget and aiming for high ROI through rental income, consider nearby areas around Phoenix that still offer affordability and growth potential.

You can also potentially bill back tenants for usage too.   

You will need to go after a strategy that has potential to work or do a house hack. 

I'd like to share the excel file but I'm having trouble navigating FilePlace to upload it.Appreciation vs. cash flow, I’d prefer a balanced market that offers some appreciation potential.

Quote from @David Young: My wife and I are new to this and are saving for our first property our goal is to start looking for properties in November 25, we have a couple questions, would it be wise to invest out of state for our first time investment (we do plan on physically going to see the properties to potentially invest in) ? 

Then you will be stuck with a potential rehab project.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

He has a few potential buyers going out to see it soon so I'm hoping someone he can find a buyer for it. 

Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.

The leads I'm getting for potential tenants are not the best.