Another thing to note, these are high-paying jobs being moved to Phoenix. 

I purchased both as a package and for the next six years enjoyed great cash flow as I paid the tax on the house lot annually at about half of what it should have been and neglected to pay anything on the tennis court lot.  

For example if you think the house is worth 200K fixed up you need to pay 100K to afford the hard money loan and rehab budget and still have a profit.

A property is only worth what people can afford to pay for it. 

The nice thing about the arbitrage business model, is the companies usually pay you a monthly rent, and then they handle all of the AirBNB stuff. 

Coin jams are going to be your second biggest headache unless you invest in those fancy ones with tap-to-pay but those cost a pretty penny.

I pay about $2500 a year for each of my partnership returns with my CPA regardless of whether it’s a $1M deal or a $5M deal.I would save the partnership conversation for if and when you are doing much bigger deals.

Most brokerages will pay around 25% of their commission when you refer a buyer/seller.

You put on a new roof for $30K but the market won't pay you a $30K premium just because of it. 

So, if you have 10 units and you are going to pay $1,500 a month and you are working on an active income job, too, this is an easy switch due to the labor mentally and physically (even if it is just phone calls) to get these rentals running as a well-oiled machine.