An alternative upper middle-class area would be Chandler, Gilbert, parts of Mesa and even the more distant areas of Queen Creek and Maricopa.Of course, it all depends on your appetite and budget.

There are also tons of local / community banks that all know the portfolio loan game and have a huge appetite for SFR loans.

NNN acquisition criteria really varies depending on your risk appetite. 

Few people have that kind of appetite, so typically how these deals work is that the equity portion is syndicated out to investors, but they're equity investors and get a piece of the upside--they're not debt investors.

I've also had clients get monitored alarm service, add fire suppression systems, etc that would have gotten them discounts had I known.

Would focus on the following:Zoning, special/conditional use variance process, planned zoning, Engineering- building, traffic, soil compaction, water flow, Permitting, fire suppression, fire hydrants, storm pounds, storm sewers, ADA,     Governmental- soil erosion, floodplain, wetlands,Leasing, NNN, CAM,     Valuation approaches.  

It's up to you to determine your risk appetite.

You need to have an appetite for that risk during the development stage of your project.4) Not necessarily true in our experience. 

Bring your appetite and a friend if you'd like!!  

Apparently a combination of technical issues, less than expected buyer appetite, and delinquent borrower payments meant I would not be able to sell the entire portfolio at this time, and I should try again after several weeks.