My assumptions going on (with no facts to back any of them up) was that I might need to concentrate on South Phoenix or some parts of West Valley. 

Here are some of the pros and cons that I see:Pros:Property management costs would be lower over the life of ownership due to proximity of homes in portfolio, low maintenance flooring, siding, etc.You could build them with more robust systems(HVAC, plumbing, etc) knowing they would always house rentersYour portfolio would be concentrated as opposed to spread all over a geographical areaYour exit strategy would be super attractive if you were to sell as a packageQuicker than purchasing and potentially rehabbing an older property, and accumulating them one by oneYou could sell a percentage of them to recoup a portion of your investment, and rent the rest, which should put you with solid equity from the gateCons:Entry costs and length of time from start to first months rental income for constructionFunding the construction, or finding the right lender to fund such a property/developmentKnowing the correct price point of the finished product, or what the community is lackingLocal zoning or possibly being prohibited to build SFH to rentHigher construction costs vs. multifamily(apartments or townhomes)I know there are many other strategies out there, but as one wanting to accumulate a nice rental portfolio, this seems to be a solid approach.

I'd avoid bleach as you can start to make some pretty toxic gas depending on the concentrations of acids. 

Banks usually do not care about the deal and they concentrate mainly on you.  

As a passionate investor -- I often forget to be a husband and a father to my newborn (7 month old)My Wife and I's anniversary is tomorrow (Aug 11) :  What is something meaningful/special to do for my wife and son for the father that often concentrates too much on real estate ?

One should invest and concentrate their resources in an area that they are most knowledgeable in whether it be your own business, stocks, or real estate.

We identified it in 2011 and started really concentrating on it.  

It obvisiouly has dropped because they paid $284kThe website showed that last year the house next door sold for $127,500, I dnt know whats the market value for this home.But like I said I may pass this up..If its goin to take 4-6 months for my first "payday"..Im just goin to concentrate on doing wholesaling..But for some reason Im not gettin any sellers calling...Ive tried contacting absentee owners, etc..but nothing,,,

Schedules offered also vary from concentrated- to extended -part-time!

I've purchased 8 my first year and a half through a line of credit/refi process while working a full time day job on the side.What number/amount of cash flow is the magic number to leave my day job to concentrate full time on real estate if ever?