Hi to all the Phoenix folks!

My number one piece of advice is finding a group that you can attend online or in person to keep you motivated and accountable to your goals. 

Most, if not all are in older neighborhoods without a HOA and on the bus line. 

Leverage is a beautiful thing, but also a dicey one.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Read a book, or even a blog like this one:  Application Screening GuideIf the landlord had called the previous landlord (me) they would have immediately denied her."

Only 100k for all your work barely sounds worth it, with all respect. 

It all comes back to Landlord who pays the full bill, so it's really not insurance at all.

You can live in one unit and rent out the other three.

@Vince Au no one can predict the future.There are some interesting facts you should confirm for yourself (NEVER believe anything anyone posts here!).