Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

The worst they can say is no and give you a counter, or they ignore you and you try again a little higher, or wait a few weeks and try a little lower.

Factoring market conditions at the time of refinance, I negotiated a lower rate and conceded a lower term anticipating rates to normalize in the 4%-5% range by 2026.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

Cross-Collateralization – A lender may finance the full $160,000 purchase by using your existing properties as additional security, lowering their risk and possibly reducing your down payment. 5.

The most you are allowed to raise rents on a year over year basis is 10% or 5%+CPI which ever is lower.

*Affordable – Next, Phoenix has relatively affordable properties in comparison to other top metro areas such as Los Angeles and San Francisco, which means that investors have the chance to purchase homes at lower rates, thus increasing their profit margins.

2) wouldn't the interest be taxable to seller?

I think you'll be hard pressed to get an ARV of $140k IMO...I'd expect something around $115k or lower.

Even competent 3rd party management can only mitigate, not necessarily address many of the issues that arise when owning lower tier properties & population growth alone is not a magic pill.