Some investors are comfortable buying for appreciation or with the expectation that rents will grow at a faster pace.

That may allow you to save for another property faster.

I'd like to start with arbitrage since I don't have much to invest upfront and can scale faster and then pivot to purchases. 

His lawsuit and others have no weight.

The more time you get with the expert the faster you can move.

They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.

My portfolio is heavily weighted towards real estate, largely because of California appreciation.

@Shawn Tuma & @Chris KayVery difficult in today's market to cashflow putting 0% down:(5-10 years ago it was possible, but prices have increased faster than rents.Your best bet is to find a property that needs work, but will still pass a VA appraisal/inspection. 

But that extra $7200/year will go a long way in paying down your loan faster, build up another downpayment fund, pay off other debt, etc. 

The difference would depending on your exact deal though, each of those are weighted differently.