Excellent location in Mesa.I shopped around and I found a mortgage broker who was able to get me a 6.99% rate who took the loan to UWM (united wholesale mortgage).I negotiated a $15k seller concession I used for a 1-0 buy down so my rate for 1 year will be 5.99% and then revert to 6.99% for 30yrs. and then we used the rest of the concessions for closing costs. in 6 months or 12 months I will revisit to see if mortgage interest rates dropped significantly to justify a refinance to lock in a lower interest rate.part of the approval process for the Fannie Mae 5% mortgage is to make sure that i could afford this property and that i have good credit, my income is consistent and stable and it reflects that on my tax returns, I have sufficient capital reserves for the subject property and my other 10 Multifamily properties (6 months of PITI for the subject and then it's percentage based off of the loan amounts and how many properties you have)I agree, the more that government "helps" they therefore are increasing pricing.

@Diana Jing @Edward DawsonThank you for the feedback and discussion.Ed, I'm glad we were able to easily navigate your 1031 exchange and move you into some excellent cash flowing properties to increase your passive income! 

This setup allows me to maintain my current income while being physically present in Missouri to actively manage our real estate investments.My BRRRR Strategy:My goal is to identify single-family homes or small multi-family units that need some rehab work, ideally in neighborhoods with strong rental demand and growth potential.

Just curious, I’m a big magazine fan (physical copies).

This ended up being a wholetail where we physically closed on the property ourselves and relisted it on the MLS after bringing up its market value.

@Nick TroutmanThe Airbnb calculator has been replaced by a downloadable excel file which you can get here https://www.biggerpockets.com/airbnb-calculator

What other factors should I pay close attention to in either the deal or when reviewing the physical property?

I own a few online businesses and in negotiations to purchase another local physical business within the next month or so.

Timothy, I have used Cost Segregation Authority for my clients with excellent results.

This is an excellent place to get started in CHS if you aren't already attending.