If you're keeping the property and renting it for $2,900/mo, you'll make that $3,240 back pretty quickly.

Also, when not occupied, the PITI on a high-end home can quickly erode prior cash flows.

Phoenix has been a hot market for rentals recently, but consider how long-term trends, interest rates, or construction projects might impact demand.Here’s a quick story: A friend of mine bought a new-build in a suburban development a few years back.

My quick opinion is yes, there's money to be made as an investor, but it's not for the faint of heart (or stomach)!

For instance, mismatched names, employment details, or salary figures should warrant further scrutiny.Urgency to Move In: Applicants who are unusually pushy about quick move-in dates may be attempting to bypass thorough checks.Reluctance to Provide References: Hesitation or refusal to provide contactable references from previous landlords or employers is a cause for concern.Cash Offers for Faster Move-In: Proposals to pay a significant amount up front, especially in cash, to expedite the moving process can sometimes indicate an attempt to avoid scrutiny.Unverifiable Identity: Difficulty in verifying the applicant’s identity through standard identification documents can indicate potential fraud.Tips to Mitigate Rental Application Fraud:Enhance Verification Processes: Implement stringent verification processes for employment, previous rental history, and identity.

Just another quick note.  

A $2,100 rent estimate looks promising, but be sure to account for property management fees, maintenance, and your solar loan when calculating cash flow.

thanks for the quick reply!

If that co-signer isn't in a position where you can force them to pay if things go sideways, then the fact that they co-signed is just a promise and you can't cash a promise!

However, poor operations, poor financial assumptions, poor finance structure, or a combination thereof can quickly turn a great deal on paper from hero to zero.