Let's pretend it's a generous 1 yr CD with no early withdrawal penalty.7 year CD: 2% and penalized six months of interest if you pull funds out early.If you pull funds out after exactly 12 months, it's a wash:1 yr CD @ 1 yr: $10k * 1% = $100.7 yr CD @ 1 yr with penalty: $10k * 2% - [$10k * 2% / 2] = $100.After 18 months...1 yr CD @ 1.5 years: $10k * 1% * 1.5 years = $150.7 yr CD @ 1.5 years and penalized six months of interest: $10k * 2% * 1.5 years - [$10k * 2% * 0.5 years] = $200.So there's your low risk / low reward "CD hacking" tip of the day to get rich by earning an extra $50 on $10k after a year and a half.

@Jay Gousman @Shaye Mann You both have numerous investment options/strategies in the Phoenix metro market, so many in fact that it can be overwhelming for new investors to narrow down what they want to do.

Yes, very risky but potentially very rewarding?

Most streets are laid out on a grid, and all the major ones running North/South are alphabetical one way and the East/West are numerical.  

I posted numerous times about how everyone and their mothers are in the game with the rising market, I got to auctions and there is like 100-200 people in Bergen County just driving prices to crazy levels... if it's not the prices being driven up, the bank wants something totally ridiculous. 

If you are passionate you can make time and there are numerous ways to obtain financing using OPM (other people's money) so that should never discourage you.

The risk in that one is I had to use only 5 yr recourse debt, which I do not like doing right now, but the reward warranted the risk for me.  

I think I would find it very rewarding.

I suggest you build up your cash reserves to be two months ahead on the mortgage, be cool with the tenants, they will reward you for it.

i.e. area's, number of bedrooms etc.Estate agents wont be too forthcoming with introduction fees but an off market source of property should be able to reward you.