That's a LOT of $ to go to AZ, TX, FL, literally anywhere. 

I happen to live in AZ in the winter and MI in the summer. 

Unless your digging deep in that file and pulling from when the game was most similar to todays. 

Quote from @Kornelius Friske: We have a STR located in peoria AZ. it's 6 beds (garage conversion) and about 3900 sq ft in total. our energy bill last month was $450 and has been hovering in the $350-$450 range since we went live in august.

I have a contract on a house in Phoenix AZ with a value of $500,000 and a mortgage of $288,000 to be taken subto.

@Grace Solano , congratulations on your purchase in Queen Creek, AZ.

One AZ is great - used them many times. 

Do you want to travel 2 days to the east coast, FL or something only a day away you can get to quickly like AZ or NV?

I have been with a property management company for 2-3 years in Arizona and the property is being run continuously at a loss.

I currently broker LIHTC multi-family for a large firm coast to coast and am also interested in MF in the Arizona submarkets as well, and will eventually invest on that scale - I just figure breaking into the state through SFH flips may be a more risk adverse way to understand the pros and cons to phoenix submarkets.