Over the past eight years, I have collaborated with hundreds of out-of-state investors, helping them find cash-flowing properties aligned with their financial goals. 

Small Multi families are a great way to increase cash flow

The best and most appropriate way to get a value, in my opinion, would be to use a discounted cash flow model.  

About getting out of the Rat Race.My family and I played it a few times, and what can be said in its favor is that there are a lot of opportunities to buy rental properties under different cash flow conditions.

- Network with local agents and investors, so you start getting first crack at new deals.If you can amp up the cashflow on the first duplex, you can use the extra cash to:- Pay down the mortgage, setting yourself up for a future refinance to free up your VA Entitlement.OR- For your next acquisition.One of your biggest challenges will to keep the cash flowing when you move out of a duplex.

They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.

The big downside of these established markets is that they tend to be expensive and hard to make cash flow.

Quote from @Steve Lehman: @William VreelandAs a local Indy Investor and RE consultant I have been flowing the IHA development closely to see what kind of developments have been happening.

It's a good place for flips; cash flow maybe not so much compared to mainland markets.

If rents are under market, consider small increases or exploring additional ways to optimize your cash flow, such as taking on another roommate.Refinancing is also worth exploring in the future.