It's interesting because of the low start up capital and potential for higher returns.

Most of the stuff you can get at Home Depot or Lowes and get it the next day, so no delays once you decide on something. 

@Bonnie Low I was not including debt as I want to know how a cash buyer would look at the deal.

The low purchase price, combined with an established market demand, made this an ideal transaction for a fast turnaround and profitable outcome.

Usually of the home requires major repairs it may require a HML "hard money loan" then you refinance in 6 months on the new ARV.DSCR is also not a great avenue for low loan amounts because all loans under $125K will take a rate hit and the minimums are usually $125k after down payment with some going down to $100K Min.

I'm curious about the size and quality of a house you could build for $375k. 

Streamline your communication process to secure quality tenants.Focus on QualityThe condition of your property matters more now than ever.

We recently relocated to Phoenix last summer and I'm starting to look for recommendations for local credit unions here in Phoenix which are trustworthy, low rates, personal touch, easy/simple to work with, etc. 

Are the units vintage quality with in-place rents $500/mo below current market?  

In the one house that I still have some existing, it's only on an overhead light circuit with no insulation around it, and I minimize the load on the circuit by using only low voltage LED lights.