I launched our property management operations in Texas with already established company processes and continued to build and iterate with time.

You'll likely find it easy to find people who will tell you what you want to hear, but you really need hard facts not speculation.But for some speculation, if you're talking about the Nantahala River or Little Tennessee, sure I think you might be able to do $22K/yr, but not much more, unless perhaps the places are uniquely styled. 

Quote from @Stuart Udis: As I am sure is the case with many investors, my residential and commercial leases continue to evolve.

I am going to continue to analyze the market until I am absolutely ready to buy with ample reserves and more specific analysis on comparable properties.

Will we see home prices continue to beat year-over-year values yet again!?!?

I'm not saying "wow, what a deal" or to copy this I'm just saying when compared to SFH or continuing to rent, the 2-4 unit househack is very appealing and thus demand is strong.

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 do not know the OP nor her teaching style, her techniques or capabilities.

Then continue moving from one unit to the others until you renovate them all.

At the numbers you are talking about and where the market is heading you could pick up some very high quality NNN national credit tenant properties as commercial continues to recover.