I agree 15 years is not a long time but what is occurring is jurisdictions then pass laws to protect the low cost housing.  

Why do you think the demand is low?

Is it wise to buy some units with high cash flow and low appreciation, and others with lower cash flow but high appreciation to diversify my portfolio?  

She has an excellent tenant profile, but private rental home inventory is low at holiday time.QUESTIONS:Would it be too much to1. locate the owner's email or phone number and then contact them?

@Chris Kay it's VERY difficult to cashflow with 0% down purchases.We do 0-10% down Land Contracts and know going in we may actually have negative cashflow - which is acceptable given the low down payment and avoiding mortgage costs.

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.

Quote from @Bonnie Low: I'd sell if I were you. 1) I don't like HOAs and certainly not for STR or MTR 2) the numbers don't make sense for you to invest in a big kitchen/bath renovation 3) it doesn't look like it's appreciating very well.

I have the ability to cover all the expenses if there is vacancy, which this property has low vacancy.

Partner Driven and Traci Stephens recognized this as a low-risk deal with high potential for a rapid turnaround, making it a perfect addition to our portfolio.

Real Estate Market Predictions for 2025Single-Family Homes: Prices will likely remain flat due to homeowners holding onto low-interest-rate loans, causing fewer properties to hit the market.