Modern free-market capitalist economics is a relatively new field of interest, and global free-market capitalist economics even newer.

Similarly, newer buildings might only need cosmetic touch ups to bring them up to modern standards.This isn’t single-family residence where you can estimate an ARV (good points by @Michael Le), stick your thumb in the air and estimate.

To make it in today's world, you need to accept modern times.Do not quit any W-2 job until you make enough on the side to pay all your bills each month. 

There are a lot of scary similarities in the market right now as in 05, 06, but agree that the shortage of affordable housing (builders are just now starting to build them, way after the fact) and labor shortage (kids uninterested in the trades) will delay the arrival of a correction (agree it will come eventually).Plus the employment base in Phoenix is much more diverse now than 10-15 years ago (construction & financial) to a lot of technology and corporate support services recently added. 

There is a lot of technology available to help you manage your properties.

Thankfully with the technology of today; there is a huge opportunity to wholesale from a distance that if you two can master it...you can acquire property anywhere. 

Technology provides alternatives to mainstream lifestyle of 1980s-present My vision is different than the historical "urban migration" trends.

He hands me an envelope with $2500 cash with a "thanks for the great work again".I got invited to his personal condo house warming after he did a full "modern" renovation, and received glowing recommendations from him. 

This combo looks modern and the contrast Really makes the white pop

The other 5% older tenants who don’t know much technology would deposit the rent to my account at a bank teller counter.