We bought a 55-unit last year in the same market, a market we've been investing in for seven years.How we found itOur property manager brought us this opportunity (and the three previous as well).

It’s my first deal so I was kind of worried about it, but I feel more confident now about how to move forward with this property, as well as any future properties. 

But I know it would make a good MTR, and managing it from next door would be easy peasy.  

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

I currently broker LIHTC multi-family for a large firm coast to coast and am also interested in MF in the Arizona submarkets as well, and will eventually invest on that scale - I just figure breaking into the state through SFH flips may be a more risk adverse way to understand the pros and cons to phoenix submarkets.

With 30% vacancy in the area, filling space could be a challenge.NNN leases are great for minimizing expenses, but how much control do you actually have?

I do have an agent I know personally but she's only in the area at certain times of the year.Section 8 would be better than nothing.

Without knowing all of your specifics, I'd say that it's only worth holding on to if you can reasonably expect to have some really good appreciation in the near future (like 5 yrs)....Or, in the case where it would run well as a vacation rental, you could switch the usage, maybe?

Rents are generally low there as well, but definitely stable.

Quote from @Dave Bobka: Excited to be joining this community!