Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Large apartment complexes flooded the market with inventory and are offering crazy incentives and amenities that crush the small landlord which can make finding a tenant challenging and often for less than market rent. 

They find deals on oceanfront houses all over the country.I'd even look for a fixer upper to get a great deal.

@Thomas Youngman I am excited to find this thread!

A HELOC or home equity loan on your personal home could be a viable option to fund the rehab, but it's always a good idea to chat with a lender to explore all your options and find the best fit for your situation.

I would also find a good GC to bring with you to verify rehab and dial that in. 

My stock portfolio has compounded by 45% annually over the past several years and I routinely take profits and derisk, go into cash and then back if I find deals.

It's been a long-time dream to do a new build and so I'm actively working to find land and begin the process.I agree that the profit margin you post seems very small.

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.

With that said, I've done some research on the market and found the following information helpful in my considerations for Phoenix that you might find helpful as well:  Demand for both buying and renting property remains high due to the city's strong economy and growing population.