I did not see marketing costs, nights that you need to spend at networking meetings paying for dinners or memberships.

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

For your seller its an effective sales price of ask - 2% using your assumed $500,000 thats $490,000, a real good offer depending on your market.  

There is around 500k equity in the property. 150k-200k would get the property fully rented at top dollar with desirable tenants. 100k would get it to where I can rent all the units back out at fair reasonable market rents.

Spring may be better but I was unable to sell a cheap house in October for 5% off of “market value” and only sold a $600k home in January by listing it for $580k and I still only got one offer. ($150k down, 5 year seller financing.) my point being you may get $20-$40k more in a year if you don’t need to sell. 

@Rajesh Kasturi My favorite MTR market for cash flow AND appreciation is Portland, OR. 

Older homes that aren’t elevated could suffer major damage when the next storm hits.Many expect market saturation in the coming months, as flippers are snapping up flood-damaged properties.

Your “don’t evict strategy” could only make sense in a market that literally hates landlords.

Would love to network with some people to get to know the area and the market a little better, as well as to hear about your experiences.

Rich Ng That's good to know, I know people who have had issues in Salem with big differences between market and section 8.