Analyze Rental Comps & Market Trends•Look at recent rental comps in the community—not just those from a year ago, but the most recent listings with similar size, layout, and features.

And yes it sure isn't what it seems, especially in this market.

Quote from @Ivan Castanon: Quote from @Jay Hinrichs: depends on market most of FLA that wont move the needle.rust belt mid west you can find deals for those amounts.. going to be rougher areas of course. do NOT follow the advice of anyone suggesting second postions or gap funding.

Hiring the right GC is key to getting the property market-ready efficiently.

I wish you the best of luck but your idea if scaling is severely flawed. 

I am wishing everyone great success!  

I did not see marketing costs, nights that you need to spend at networking meetings paying for dinners or memberships.

Market 1bd rents are about $1500-$2000.Ideally, we would have 24 months to get thru plans/engineering/permits/rennovation.

This is going to be very market dependent, and property dependent. 

Personally, I would never live in PHX, but that is all personal biases (I prefer seasons and greenery), and clearly lots of people choose to live in PHX.At the end of the day, I would argue market selection almost only comes into play when you are talking assets that cater to institutional buyers that have to get investment committee sign off.