Hey @Mihir Bhimaraju , thanks for jumping in.The area is actually just to the east of Devington, between Arlington Community High School, E 46th and Shadeland.

They are in the Pleasant Ridge Subdivision south of Pleasant Hill (just E of Hwy 65). 

Asking Price is 556k        Appraised Value "Sales comparison approach" 598k         Built in 2004Decent location in the middle of townAll units currently rented "Units leased are 1 year leases" Unit A Leased Dec 2018 $775Unit B Leased Sept 1 2018 $700Unit C Leased Nov 2018 $900Unit D Same renter for 3 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit E Leased Oct 2018 $900Unit F same renter for 2 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit G Leased in April 7 2018- March 31, 2019 $700 Unit H same renter for 3 years, month to month current rent $675, they are upping rent to $725 in Feb 2019Total current income = $6,350   After rent increase next month income will be $6500Expenses - Tax $817- Est.

@Jerry E herron iii Welcome to BP! 

Proc. 2002-69 and 2002 C.B. 831, a husband and wife who are the sole owners of an LLC and reside in a community property state can choose whether they are treated as a partnership or disregarded entity.You have to understand that tax and legal matters are different. 1) for tax, you will be reporting on your personal return, Schedule E.2) for legal purpose, LLC is a separate entity, and it has to be treated separately from your personal finance.

@Stanley E., right, but then I lose financing options as Fannie and Freddie do not allow banks to lend to LLCs.

WE packed up and moved to E TN this summer.

@James E.

Listing on Realtor.com:https://www.realtor.com/realestateandhomes-detail/2839-E-le-Marche-Ave_Phoenix_AZ_85032_M20313-47560

(Effective September 30, 2018.)(1) A landlord may not, based on the source of income of an otherwise eligible prospective tenant or current tenant:(a) Refuse to lease or rent any real property to a prospective tenant or current tenant, unless the: (i) Prospective tenant's or current tenant's source of income is conditioned on the real property passing inspection; (ii) written estimate of the cost of improvements necessary to pass inspection is more than one thousand five hundred dollars; and (iii) landlord has not received moneys from the landlord mitigation program account to make the improvements;(b) Expel a prospective tenant or current tenant from any real property;(c) Make any distinction, discrimination, or restriction against a prospective tenant or current tenant in the price, terms, conditions, fees, or privileges relating to the rental, lease, or occupancy of real property or in the furnishing of any facilities or services in connection with the rental, lease, or occupancy of real property;(d) Attempt to discourage the rental or lease of any real property to a prospective tenant or current tenant;(e) Assist, induce, incite, or coerce another person to commit an act or engage in a practice that violates this section;(f) Coerce, intimidate, threaten, or interfere with any person in the exercise or enjoyment of, or on account of the person having exercised or enjoyed or having aided or encouraged any other person in the exercise or enjoyment of, any right granted or protected under this section;(g) Represent to a person that a dwelling unit is not available for inspection or rental when the dwelling unit in fact is available for inspection or rental; or(h) Otherwise make unavailable or deny a dwelling unit to a prospective tenant or current tenant that, but for his or her source of income, would be eligible to rent real property.(2) A landlord may not publish, circulate, issue, or display, or cause to be published, circulated, issued, or displayed, any communication, notice, advertisement, or sign of any kind relating to the rental or lease of real property that indicates a preference, limitation, or requirement based on any source of income.(3) If a landlord requires that a prospective tenant or current tenant have a certain threshold level of income, any source of income in the form of a rent voucher or subsidy must be subtracted from the total of the monthly rent prior to calculating if the income criteria have been met.(4) A person in violation of this section shall be held liable in a civil action up to four and one-half times the monthly rent of the real property at issue, as well as court costs and reasonable attorneys' fees.(5) As used in this section, "source of income" includes benefits or subsidy programs including housing assistance, public assistance, emergency rental assistance, veterans benefits, social security, supplemental security income or other retirement programs, and other programs administered by any federal, state, local, or nonprofit entity.