I'm just getting my hands on real estate investing, I know it's not a good time with high interest rates 🤦🏻‍♀️but I'm looking to get something by this year.

I've decided that finding "deals" in Arizona is unnecessary as there are other markets that one need not search high and low to find something that can produce a decent cash-on-cash return.

The seller said this is in a gentrified area so there's potential to rehab this effectively and get a high payout as shown in the last comp.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself. 

Much of the country is at high risk between fires, hurricanes, tornados, tidal waves, earth quakes, rising tides, etc.  

Don't invest in a market if you can't find a quality PM!

(Assuming quality of service doesn’t decrease.)No matter how you look at it, that is a ton of money.

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

IT's the worst place in the world to be a landlord and very high risk.