"Inflation expectations" is a purely rational and logical way to look at it, but let's consider that bond market buyers/sellers aren't 100% comprised of Vulcans, and that there are highly emotional and irrational individuals among them, as well. 

Especially on the rental side where prospective tenants may not care because they aren't living there long term.I live near a freeway where sometimes you hear it. 

It seems incredibly high but we aren't familiar with the phoenix area.

I agree with finding quality comparable properties and basing your income off these.If there aren't any, why is that?

As more people flock to the city due to job opportunities, educational institutions, and an expanding arts and culture scene, the demand for rental properties has risen.

A lot of agents don't want to have to educate someone who is broke and has dreams of financial freedom through real estate just to find out you can't buy.

Thank you for saving me from some unnecessary headaches.On that note, can anyone recommend/endorse a reputable educator with experience in wholesaling?

BP is a great place for education and networking. 

Hello,I'm interested in STR around the Pinecrest area and noticed that there aren't any Airbnbs around the lake itself. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!