Another struggle i have with STR is replacing small items continually which ties back to pricing.

So the numbers seem to support either.Just looking for some feedback as I continue to brainstorm a path to success.

Unfortunately due to the business you choose to operate incidents like the one you experienced are more likely to occur compared to a property that's continually occupied by a tenant where the water would more likely be run at a higher frequency which would prevent the pipes from freezing.  

If you haven’t already, I’d scope out the municipalities around town.. from what I read in The Economist, the Phoenix metropo area continues to rank high for job growth, which usually bodes well for new builds.

The state's economic dynamism, natural beauty, cultural attractions, and educational institutions continue to draw people and investment.

Hmmmm why does the same person own both, but they've let the house go to foreclosure, but continue to pay on the tennis court?   

If the market continues to appreciate, holding the property could yield more long-term equity gains.

As you gather all this information, I would continue bettering the process and continuing to buy deals.

You increase the likelihood that you continue to receive that $8,500 each month. 

Job and Talent Loss : The duration of recovery has and will continue to force migration.