I'm a local wholesaler, STR investor and generally curious real estate dude. 

While this guidance provides general steps, it’s not legal advice; an attorney will ensure the process aligns with your specific circumstances.This post does not create a CPA-Client relationship.

So if conventional primary residence rates are that high, par rates on investment properties are generally higher. 

The answer is yes, but it is generally found when the owner is also living in at least one unit (aka "House Hacking").

Ask yourself: do I really have the knowledge of real estate principles, real estate law and real estate finance; the network of contacts; the experience both in business in general and real estate in particular; the time available; and the analytical ability to compete against FULL TIME EXPERIENCED PROFESSIONALS to be successful in a field where the failure rate is so astronomically high?  

However, a general rule of thumb is to hold it in the same taxpayer name for at least one year before making any changes.

Not to mention the general PHX market has become expensive and people have already been looking for cost efficient alternatives in the northwest and southeast corners of the valley. 

Where have you generally found tenants?   

I am generally weary of courses.

These properties are generally in high demand, but on a positive there will be drastically less new inventory of competing rental properties.