I stopped by the speak to the neighbor and it turned into a very heated discussion with me leaving before things escalated.  

Electric heat and electric stove.

Plus our area is getting a lot of heat nationally for using too much water.

Plano, and other DFW suburbs have really heated up.  

Hopefully you don't mind the heat too much.

What's bringing you back to the heat of Phoenix from sunny California?

Florida is getting heated why invest here when you can invest in the midwest to get better returns?

I'm $10k over on one rehab, $7k over on another and I've been at this a while...just replaced a heat pump on a rental for $4k, too. 

. $1,200 to $3,000.I don't do major electrical work or major plumbing, however I will install new hot water tank and new air conditioner unit and or heating unit only if needed.SO therefore on the low side my quick estimate is $8,400 and on the high side $31,000

This is how I view your deal:Monthly Mortgage payment $603.92 (25% down, 5%, 30yr on 150k purchase)Taxes $280.00 Sewer and Water $66.67 (I spend about $400/year per apartment)Trash $75.00 ( 2 yard dumpster emptied every 2 weeks)Heat/Utilities $- (no common electric, basement or otherwise?)