Of one unit is vacant, at least you have money still coming in on a monthly basis.

Ultimately the purpose here is to enjoy and be happy with your days, if you own everything you need daily, you don't "need" 500k a year.

STR....I can only imagine the groups of individuals who will rent this house on a short term basis.

Quote from @Rafael Ro: Quote from @Taz Zettergren: @Rafael RoThere are cash flowing deals on the open market, I'm helping clients find them daily but in some situations it makes sense to go with the turnkeys to minimize your risk.

Sometimes you have to step back, really think about your long term and short term goals, stick to a daily, weekly, monthly and yearly plan.

It shouldn't, under any circumstance I can think of, be the basis of a growth strategy.

FICO, experience, and LTV are also factors but this is the basis of the loan.

Or ferry which runs daily.

However, I find the real value in the longer term appreciation that shows up in 5-10 years of the daily grind of rental properties.

They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.