I would add that SFH airbnb market here is saturated BUT I believe there is still a robust market for larger homes for family gatherings and events.

Don’t forget. 2024 rent cap was 8.9% so you may never get “market rent”.

I love Dallas—it’s not only a fantastic place to live but also one of the fastest-growing markets in the U.S.  

Mine have appreciated off of the charts in the Charlotte metro market.

So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

My first duplex was a turnkey, off market property.

Personally, I would never live in PHX, but that is all personal biases (I prefer seasons and greenery), and clearly lots of people choose to live in PHX.At the end of the day, I would argue market selection almost only comes into play when you are talking assets that cater to institutional buyers that have to get investment committee sign off. 

An ADU could rent for an additional $1,200–$2,000/month, depending on the local market, potentially doubling the property's cash flow.

Hey @Paul LaValley welcome to the forums, and phoenix and Tucson are great markets, what makes you interested in those markets specifically?

Having worked with 1,000's of investors to Broker the properties I sell in my local market, and having worked with dozens of Property Managers, Turnkey Providers, Agents, Property Management Software Companies, Lenders, Inspectors and various other investment real estate vendors to market their products and services on my show, the one thing that stood out to be was the CEO Zach's obsession with the biz.In real estate we've get a lot turnover, a lot of flameout.