I currently broker LIHTC multi-family for a large firm coast to coast and am also interested in MF in the Arizona submarkets as well, and will eventually invest on that scale - I just figure breaking into the state through SFH flips may be a more risk adverse way to understand the pros and cons to phoenix submarkets.

One has a 162k mortgage, $1250 tax,Insurance,%3.5 30 yr, worth at least 750,000 LTR rent $3200, #2- Los Angeles worth   $750k as well just did a remodel of 150 K, mortgage is 75,000 payment $700.tax,Ins, Mtr/str hybrid.

Ran into many problems with contractors along the way, paid for some material twice as well as some projects to be redone.

If you engage with Pad Split and you're out of state, you'll probably want to hire a PM as well.

Filter changes are a good time if you have them as well.

Make sure you do your research as well. 

I am learning in the real estate business as well but in the Kentucky/Tennessee Market!

And the favor is please mark me in your system as do not call.My wife has started doing the same and it works for her as well. 

So, if you have 10 units and you are going to pay $1,500 a month and you are working on an active income job, too, this is an easy switch due to the labor mentally and physically (even if it is just phone calls) to get these rentals running as a well-oiled machine.  

You'll have to factor that into the holding costs as well.