Thankfully we are commercial bank clients so our rates are as low as you can get in the market place for anyone who is not Lennar or DR horton or those types.

When evaluating markets for rental properties, there are a lot of factors to consider: population growth, employment rates, rent to price ratio/GRM/Cap Rate, rent trends, vacancy rates, etc. 

I have a 2.5% interest rate on the balance of the mortgage. 

Mortgage rates have kept increasing as well, that's why I put a range on negative cash flow.

There’s a lot of construction, which could hurt both prices and vacancy rates.

There are also case by case opportunities within the North Phoenix market where rental rates are stronger. 

They have 4.8 stars out of almost 1000 reviews, and the BBB gives them an A+ rating but they require 4 to 6 thousand dollars up front to work with them.

They could self manage for several years, using the rental income, until the next phase of their retirement.If they have a decent amount of financial discipline, they may want to get a HELOC now before they build to get the most favorable rate.

As you go on your real estate journeySomething I would recommend for you is this website. https://www.areavibes.com/Use this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below F

Real Estate values, nationally, have never decreased over any 10 years. https://fred.stlouisfed.org/series/MSPUSFocus on optimizing active income first.