I try not to let it get personal...there are some members that have been 'inappropriate' in the past, but I will still give them a vote if their post actually deserves it

Personally I like the work part and building up to something.

Most building codes and HUD standards require bedrooms to have windows for egress and ventilation.

Any insights, personal experiences, or advice would be greatly appreciated!

Personal money How did you add value to the deal?

Look into DSCR loans, which use rental income for qualification, allowing you to scale without relying on personal income.

Cosmo - I personally don't know Phoenix well, but if I had to do this in another city I would look at income levels, crime levels, and population growth (if you can) by zip code and/or area within a DMA as a starting point.

For example of above, there was a person I know, they bought a house for a rental, the square footage was enough to make a 3rd bed out of a dining room, that would increase the month rent by $400.00 a month if they did that..

I also have personal W2 income, if that matters.Is there a loan out there for a set-up like this at 15% down? 

. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses.