I know it was really hot when the remote work model was more widely adopted.

Looking at properties in the $200-$400K range to get started, but may go higher if the math makes sense.  

We have around $150,000 available for investment.We understand that finding deals in this price range in Phoenix itself might be challenging, so we’d love to get your input on areas near Phoenix where our budget could work.

In my experience, there are a range of starting-off experiences, but one's experience is not always indicative of someone's desire/drive/commitment to pursue and thrive in real estate. 

@Jaren Taylor, not sure if this is why you talk about raising all cash, but given most deals are trading in the 5% cap rate range, and agency debt is 6.5% while balance sheet debt is closer to 7%, I whole heartedly agree that all cash is the ideal capital structure for many properties today, if your goal is to maximize overall returns for your investors.  

The carrier rating for Obie policies range from A+ to A-.You are probably aware that many carriers are leaving the State of California due, in part, to the significant regulatory challenges they have with making adjustments to their products that the state always has to review and approve.

For the most part the homes have been under $225,000 renting between $1495 - $1695 range. 

With $50K and a DSCR loan, your budget will likely cap at properties in the $150K-$170K range, depending on the closing costs and any repairs needed.

And what is your price range and are you looking for turn-key properties or something along the lines of a "fixer upper"?

I'm not sure what the current appraisal value is, but comps in the area range from $600k to $1M+.