HUD and Agency financing is another beast compared to conventional or non-bank lending (Secondary Market).

You could also get a couple different agents in the area to get you good comps on what to sell it for and compare on what they say the out price can be. 

There was a BP member who was quite active for a short duration that presented hi use case for RE not being a good investment compared to other investments especially ially stocks.  

Just don't make the mistake of comparing what someone else profits on a role, to decide whether your compensation is sufficient or not. 

Then your heirs can inherit your position and keep it going every 10 years.....etc....as compared to the MIN which is due in 30 years.For example here are a few recent CRE deferred sales trust deals:- Owner who sold a $34M apartment complex and moved his funds into a Deferred Sales Trust. - $18M Business Sales of Veterinarians who sold multiple practices in Virginia and Indiana.Another example, was for a couple who sold their primary residence for $26M in Newport Beach defer $6M in capital gains tax.

I think finding property is pretty easy compared to managing.

I would factor in time to travel to any market, but AZ is relatively quick compared to the east coast. 

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I would be interested in connecting with 1-2 people based in SoCal that would like to meet in person periodically to compare notes.

The problem you may run into is the lower appreciation rates compared to the South.Considering Commercial Real Estate:Have you looked at mixed-use properties?