The rehab estimate seems very low and the ARV seems really high in my opinion, just based on a tiny bit of research looking at what this property was listed for recently (it hasn’t sold), and what the surrounding similar properties are worth (~$250k).

If you choose an area or decide to work with people who will take up more time due to the low cost of entry, you may end up paying more in the long run. 

Hi Jewell,The first thing is to see what is lacking the most in the property since small upgrades will have the biggest impact in the areas of low quality to start.

@Lucas Helliker I am a multifamily broker who only sells multifamily in the KC metro - typically 5-50 units but go as low as 2 and up to about 72 units.

Flat fee brokerages have been around forever, as low as $295.

Hey everyone!I currently rent in Nevada and am looking to buy a house or condo where my wife will be staying 1 week per month for school. The rest of the time I would rent it out as a STR. What are lower down payment ...

I have tested it in the past and find that it is way off (usually on the low side) for me.  

I think your best approach is to pretend you are the investor yourself, calculate build cost (mortgage with interest) + Maint / cap expenses/ management fees according to your zoning and then compare that to the average rent in that neighborhood.

I also know Arizona is fairly investor 'friendly' and has fairly low property taxes.Interested in purchasing small multifamily properties (2-8 units) depending on the property and numbers of course.

The best route is low coverage industrial, industrial outdoor storage.