I like to have my paperwork pretty, neat and efficient (Im thinking about getting an application ready).

There was an STR boom when many people bought homes here thinking they could have passive income, but that is not the case here as much as it is in places like Asheville (which is still seasonal, but not as much).

May I also add… diversification should be a may focus for income generation, think about a portfolio of investments. 

Which makes me think it’s a smaller operation.

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

I don't think that's true.  

I also have a few older homes I think I have a couple built in the 1910's. 

I think it will add more competition to the rental market and the buyer market specifically up in N Phoenix, Deer Valley, Desert Ridge, and then up into Anthem - but will bring up value throughout the county. 

I'm thinking of 1. find a renter 2. move out and rent my own place while searching for next deal 3. buy a new primary 2.

(Your $12k down and your new $24k debt.)The “trick” in regards to less than 10% down is people think they bought and asset or have equity.