My father and I have formed an LLC with another friend to start buying some rentals.

Have you had larger Cap Ex projects that you didn't anticipate?

They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.

For example, you could showcase the family-friendly amenities, outdoor spaces, and stylish interiors all at once, similar to the one shared here (this is a listing photo, so I would recommend you change the text to fit your guests).

A good friend of mine, managed a similar transaction last year: he merged several single-family homes around Florida and exchanged them for a mid-size apartment complex in Chicago.

Unless you have boots on the ground there (friend or family, not the agent), it will be very hard to manage.

It’s my brother and 2 good friends that have some experience. the money lender would be a family member of mine lending out of their self directed IRA so they will be lenient with us.

A friend of mine started this way, and it made his transition to full-time business ownership much smoother.Document EverythingKeep meticulous records of all transfers between your business and personal accounts.

I actually got across this thread while Googling data on rent-to-price ratios for a friend who was exploring Lakeland.

You have a long great career on FOX and friends.