For rehab loans you'd probably want at least 1 exp to get 20% down.If you have a specific scenario I'd be happy to give you a rough quote.

Even small, common mistakes like renting below market, picking the wrong tenants, unwilling/unable to enforce lease terms, slow turnovers, or unscrupulous contractors can cost more than a good PM will charge, and that's before you account for your time and the stress.If you have the personality, I recommend self-management for anyone who lives within 1-2 hours of their investments.

However, in many cases, these properties operate like  those acquired by the Investor B in the  scenario I shared above.

And, as a Condo project everyone is sharing in the water bill by allocation of the HOA fee which should be increased if common area expenses have risen.

Buying a property for rental use with minimal down payment and manageable monthly payments is a common goal.

It's a very common concern that the other side of your transactions might try to take advantage of if they know you are doing a 1031 exchange. 

Quote from @Jagan Reddy: Cat urine is the most common destroyer of rentals.

So much in lending comes down to mindset and how problems and scenarios are approached and solved.

@Sam Liu This is a common concern for people who are looking to do 1031's.

Then 85254, which is further north and close to the TPC Scottsdale (home of the Phoenix Open) and shopping like Kierland Commons and Scottsdale Quarter.There is also a Facebook group for Scottsdale STR operators, which a few of my clients find helpful.Let me know if I can answer any questions for you.Melanie