With an average monthly profit of about $1,175 after expenses, it’s proving to be a strong investment.If your parents sell their home and want to move in, you’d need to weigh the trade-offs—losing that steady revenue vs. the stability of a long-term tenant.

This means you'll get a good cash flow, but appreciation of the property will be low.In the phoenix area there is more ownership and less renting, but due to prices increasing faster than inflation we are seeing a rise in renters.

It didn't sell at auction, so not sure what they ended up doing with it....maybe tried again later or put it up OTC. 

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

3) How well prepped was your property?

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Other considerations are the lost costs to sell and re-purchase other properties.

The seller was moving out of state and needed to sell.

What is the best option for a landlord policy for someone who owns multiple rental properties(AZ and CA) and has no primary home or an auto? 

I had to sell this because it wouldn't cashflow.