For purchase price, use this formula,  (Arv * .70%)- Rehab = Purchase Price Good evening Dustin, I went onto the webpage for Arizona association of Realtors and I found the agreement for 2024, however I am not licensed so I do not have access to download the contract.

We don't even a Board yet (it's a new build), and it's all being coordinated by the HOA management company for the building.The developer offered to make the new door key fobbed on each side for entry, and would install a new security camera. 

It’s not even close (FT).

Even the funding alone is easier since you now have a cash flowing property that can help you fund your seed money faster. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Either way, I ran a proforma and this looks like a good deal (as long as you don't have too much in the way of rehab/maintenance costs).Also, IMO, you can probably raise rents even higher.

Which means they are probably advertising new Deals all the time even though their prior offers are collapsing.  

@Chris Seveney even better results can be obtained with a Solo401k , if eligible.

Unfortunately I am told most admitted insurance carriers are out of the business for insuring apt complexes in the state of CA (this was even before the LA wildfires this month.

STR feels more like a strategy to break even or eek out a meager return on a great asset than a strategy to cashflow.