On top of that, you’ll want to budget for ongoing expenses like property taxes, insurance, operational costs (such as utilities and property management), and maintenance.

(especially for those involved on this website)The reason I mention if it matters on this website is because most are real estate investors(long term buy and hold) and will most likely operate at a tax loss which doesn't have an impact on taxes.The second point is, will you invest or not invest in a good investment because of what your tax rate is?

Unless apartments are just not as marketable, then a multifamily building is likely the most efficient for construction expense, operating expense, and rent/SF.With a building of only 12 units, I doubt you'll see any time-based advantage by phasing in duplexes.

I remeber a friend of mine in Austin who went through a similar journey.

He was slow on selling it, believing that all the money was mine instead of trying to close the deal quickly so I could do it again. so I ended up spending my profits on the monthly mortgage payments.

That’s probably much harder to find today unless it needs lots of work like mine did.

I been a property owner for many years if this one was one of mine it would have never gone this far.

I am trying to figure out the fairest way to go out about this so we can have it written in the operating agreement.

Welcome Sasank, my name is Thomas and I operate out of the Phoenix area, would be happy to answer any questions you have about Arizona RE. 

Hey, MadheshwaranFellow short term rental owner/operator here.