Selling prices are the important number, but the Phoenix market also has seasonal cycles, so you need to compare yearly numbers.

For that reason, the appraiser should report the basement or other partially below-grade areas separately and make appropriate adjustments for them on the Basement & Finished Rooms Below-Grade line in the Sales Comparison Approach adjustment grid.For consistency in the sales comparison analysis, the appraiser should compare above-grade areas to above-grade areas and below-grade areas to below-grade areas.

Welcome to the game Aaron.You're in a great market that is sure on its way up.Since you're on the ground you'll have the upper hand compared to all of the out of state guys. 

I think if you want to do a traditional rental remotely a good property management team is key.

It does require self-employment activity, but has a lot of advantages: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

Even RMDs from traditional IRAs can be tapped.Does anyone know if there is a way to protect these funds so my mother doesn't become a pauper taking care of my father, then is destitute if/when she needs a home? 

@Brian Erickson The main benefit of having a license is access to the MLS for the purpose of doing comps (comparable sales).

(Just so you can compare costs). 

Compare them for each scenario and see where you get more return.For instance, if the rate of return you get on the investment property is higher than the interest you are paying on the mortgage, the investment property is the way to go.

The demand for housing remains at an all-time high, but statewide we’re seeing a slower rate of increase in sales compared to previous quarters due to the lack of inventory of properties for sale.”