Bonus Tip: If this quadruplex is out of state, I’d highly recommend building a reliable local team (cleaners, handymen, etc.) and maybe consider hiring a co-host or VA to help with day-to-day tasks, especially if you scale up. 

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend 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?

Hi Shyam Sridharan I would recommend to get a contractor to make all the changes.

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

I am in Brent Daniels' TTP Mentorship (which is excellent - HUGE value) and he recommends Batchleads (but not their dialer - for that he prefers Mojo) and I think I should just stick to what he said, but I have serious "shiny object syndrome" - my bad ;)!  

In Phoenix, a 1996 build is practically brand new when compared to a WWI-era home in Cleveland or Pittsburgh or some other Midwest or East coast city.While I agree that older homes come with more problems, buying something newer may not work as the price will be higher and won't cash flow as well.I'm of the mindset to buy what fits your budget and investment goals.

They are not.I recommend you pursue the best tenant for your properties and disregard how they pay your rent.

Does anyone have any recommendations for property management in Pheonix?

Most professionals will recommend a separate LLC for every $1 million in assets, but I don't think that's necessary.

I would recommend fixing it and then determining whether or not to sell based on cash flow and profit after the sale.