You're in a strong rental market, and house hacking a small multifamily in Phoenix is a smart way to build wealth.

To maintain your standard of living, your rental income must increase faster than inflation.

Initially we did a light renovation on the rental unit and a larger renovation on the 1st floor.

The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential.

So they used the actual rented data of these companies to compare what rentals should go for in your market.

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I plan to use it as a rental property, but I'm concerned about the location—Bullhead City, Arizona.

Quote from @Gregory Wilson:As for the second, there are only about 20 monetary numbers to be entered in Turbo Tax on a single unit rental property 1065 so it always seems to me that the $3500 would be better spent elsewhere.

We decided to quit buying rentals to hold, and instead, the units that we typically would rehab and hold, we are going to rehab and sell.

Max of three rental properties.