Somewhere long before 10 years, the higher cost market is likely to have the better cash flow and that will in general increase each subsequent year. 

I would also recommend increasing your liability coverage to at least $2M.

The shorter the prepayment term has an impact on increasing the rate.4.

And you increase your ROI.This is exactly what the 1031 exchange is designed to do.

That said, weigh the cost of renovations against the potential increase in appraisal.

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

Increasing NOI and value of property by 2M+ Lessons learned?

How much will the increased cashflow supplement your anticipated SSI?

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

They could also fix it on their own (as some of Scott's buyers do) , increase the value and sell it at higher price than bought, pocketing the difference.