Rehabbed it into 9r/1c and tripled appraised value from $213k to $613k in 13 months. 

For the last 10 years investors from around the world have been investing there and have doubled, tripled, quadrupled or more on top on the 20- 30% net caps cash buyers,.  

I've wondered the same thing - my guesses are:-Big metro area (Maricopa County 4.5M people)-Fast growth (tripled in population since 1980)-Newer, more uniform housing stock than east or midwest-Good weather

I could have gotten more but I wasn't greedy and I did the deal in less than 30 days from purchase.I am currently looking into developing a piece of commercial real estate and working this deal into a triple-net lease for long-term income with a market cap of somewhere between 8-12% depending upon actual and final costs of acquisition.Tell me about yourself?  

There will likely be sourcing requirements with the $50k deposit, but those can be as easy as an LOE, depending on the lender. 3.) confirm STR are allowed for this type of loan as many lenders do not like STR or they will offer lower LTV %'s for STR loans4.) the numbers I was referring to in my first message about being dialed in on were actually the rehab numbers at $20k, maybe it is enough for what you are planning, but as mentioned by others, prices are higher, good GCs are hard to come by, etc.All in all, sounds like it could be a decent deal, just a few things I would triple check regarding financing so they don't cause roadblocks later.

If you can t generate at least 20% ConC,  consider investing in a STVR property passively by triple net leasing a property to a management company2.

NAR recently lost a $1.8B dollar lawsuit which could be tripled with several other civil suits pending and a possible DOJ investigation. 

You have triple growth platforms - a) basic appreciation, b) the return on your remodel work, c) the neighborhood gentrification upturn.

The triple decker condo-conversion game is very popular there, as in Southie.

Now 10- 14% net as pricing has doubled, tripled or more.