When I put my offer in I was told that it had gone under contract 2 days prior.I have said it myself and hear @David Greene and @Brandon Turner say it all the time, “Get it under contract and figure out the rest”.  

Anyway, the submarket most of my properties are in is a hip/trendy area. 

Let me add a few more thoughts for you if I may What type property you start investing in is defiantly; what can you afford and find?

Lastly, what part of the Phoenix Metro Area are you hoping to be located in? I

 I am hoping to get some guidance on a situation I am in. I

The rent I have put in is what I know is about average for the area due to the influx of people moving here.

Knowing you have a loan in place where you only have to put 3% in is fantastic and should be a huge encouragement to you. 

Glad to see the heavy hitters chiming in . I

We currently live in Fort Payne Alabama.Right now we are searching for a house for us to finance and live in. I

I have offered 145k where as the remaining note on the house is for 135k with the reinstatement fee figured in. I