I put minimal down them recycle the equity to generate more cash flow.

The city has an A+ grade (has to do with how well they clean the water) water recycling plant that cleans recycled water, and they are pouring it back into the aquifer, so Sedona won't run out.

Then kept recycling that equity to end up with 24 SFR now.

Our group also encourages to pay down the property faster by using cashflow but I think the theory of cashflow recycling will be my preferred method.

Of course, I'd like to minimize risk by buying a turn key property, though I'd ultimately like to recycle as much of my capital as possible to buy more properties which seems difficult to do if I don't find some way to force equity in my first property.

(Recycle the money!)

"Hot Tub Recyclers").

I know that households in the valley are extremely water efficient in that usage for households has hardly gone up over the last twenty years despite the growth due to more efficient appliances (dishwashers and washing machines) and wastewater technology including recycling car wash water at car washes and using grey water for irrigation and a leaning in recent years toward desert landscaping instead of turf (grass is a huge water guzzler).  

I'm going to continue to recycle that equity to grow my portfolio.

Again, I say If you leverage prudently, you're better off with the cash in hand.HOWEVER that being said, I would LOVE to hear form the B & H investors on BP who've lived through a few storms over the various RE cycles.