Not fully rented, but in a highly desirable location? 

very high risk even I only do them with very specific investors in mind and a plan. we dont flip land we develop every one. 

I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me. 

Another thing to note, these are high-paying jobs being moved to Phoenix. 

So sad...... what is scary too is they only have them 10-20% contained and they are expected to get high winds again which can carry those embers pretty far. you also have to think these fire fighters etc. have been working around the clock and must be exhausted.

What I noticed so far is extremely high property taxes. 

@Yael DoronIf you're working with a $150,000 budget and aiming for high ROI through rental income, consider nearby areas around Phoenix that still offer affordability and growth potential.

This influx of high-paying jobs (averaging $60 per hour) is expected to draw a significant number of professionals to the area, boosting demand for housing and various services.

Some lenders even do as high as 1.3.

Let’s break this down:The case for holdingThe 4.75% interest rate is a valuable asset in today’s high-rate environment.