What I do not control is the natural level of rents in any given market at any given time. 

I think Natural Gas dryers have 110V outlets but electric only dryers are 220V w/30 Amp breakers, if I'm remembering correctly. 

AZ is not prone to major natural disasters so investing there is less risky with regard to those types of setbacks.  

There is some additional information that wasn't mentioned in your post above which sheds a different light on the situation.  1.

Ask your contractor to walk the property with you if they're available during the showing, or at least send them the photos and information that you received from the wholesaler to get their opinion.In Pittsburgh a light or cosmetic renovation is about $20k, medium is $50k, and a full gut is $100k.

And better yet 80%+ of this asset class tenants are home owners by nature, divorcee's in process, there living standards are home-owner conditioned. 

Fixing a leaky toilet, replacing a broken light fixture, etc. can create good will.

On paper, it looked brilliant..cheap money, quick turnaround, and a profit projection that made his eyes light up.It taught me that the real risk isn’t just the cost of capital, it’s the predictabilty of your exit strategy.

This influx of workers will naturally drive demand for housing, retail, and other services in the surrounding areas, especially in smaller towns and cities that haven't seen major growth in decades.

Bought under assessed value, slight value add through cosmetic rehab (paint, light fixtures, flooring) What was the outcome?