for purposes of determining "attractiveness" I'm assuming money shoved into ETFs makes ~6%/year (inflation adjusted) and is significantly less hassle.

I know Phoenix got hit very hard with foreclosures and homes could be bought for $30k or so on low end and people had their pick since the bank was off loading so many homes , now looks like low end is $150k plus .

Maybe you can pick up an existing one cheap that an owner is tired of?

Also, regarding Unconscionable rent increases, check with the town to determine if they have rent control laws.

It also makes it easy to educate tenants or Landlords, pick up new rentals, etc.3.

I've considered asking if the fees could be lowered for a certain period of time in exchange for a smaller commission share while I learn the industry, then go back to the original terms next spring when the market picks up and I will have hopefully built a solid foundation.

By defining the scope you can both agree on what needs to be done and create a budget, you can plug that number into your calculation and determine what the actual value is. 

I have a solid portfolio of singles, duplexes and even my first 11-Unit picked up this year. 

Swissvale has been picking up steam lately.

Price will determine the location.