Rates will come down and homes will hit the market but you will continue to have the problem that most people cannot afford a home and the numbers do not work for investment purposes.

That being said, make sure you still look into the people and the voucher. 

Hamp,I appreciate the advice.Due to moving back to Colorado, I would probably shoot for long term rentals, so possibly medical school or people stationed at FSH.  

Your average cap rate in Maricopa county is 5%, which for the starting investor isn't anything worth doing as most people buying the rentals are doing it for write off purposes more-so than cash flow.

I total get why I've heard over and over people getting hung up on the first investment LOL. 

>The upside would be passive income in the range of $3500moNormally I do not see people with residential experience refer to it as passive income.  

There are a few options that some people have used when they were looking to buy a new home before selling (and ran into DTI issues). 

Some people take a year or more to finally pull the trigger.

We live a couple of hours from the property and needed local people to lean on in emergencies.

How should a escrow account be created when there are two people on a lease (two friends staying in a 2BR condo).