Just not seeing a good use case for FHA these days other than the lower interest rate.  

the lower the cash in (starting with the DP), the quicker you recover your cost. 2)  Solid, as in equity. 

It's a great market for cashflow since it provides a lower price entry point and demand for rentals is high.  

This will lower your monthly living expenses while your tenants help pay down the mortgage and the house appreciates.

Then you can do a 1031 exchange or sell it at a lower tax rate. 

I understand the rate is competitive on the assumable, but having $300k liquid, you might as well do a lower downpayment and Buy down the rate. 

To do a 100% BRRR the cap rate has to be lower then interest rate.

The headache of playing peacemaker between 3-5 unrelated tenants doesn't sound worth the premium management fee; not to mention rent by room generally brings in lower quality tenants which require significant more management.With that said, higher rates are pushing investors toward rent by room simply because it's the only option for cash flow (at least in Denver) which is why I have so many folks reaching out.If you currently have rent by room investments or perhaps you're a PM currently offering rent by room, I'd love to hear your feedback and any advice you may have. 

Sometimes I see properties currently for rent lower than those 3 services. 

As others have noted the number of MF properties in the greater Phx area is low compared to many markets and the number for sale is even lower.