Obviously there's a lot of STR down around the theme parks, but it's a double-edged sword since it's highly competitive with a lot of supply (both those for sale and those for rent).   

My portfolio is lop sided in that I am heavy in RE.

Unfortunately the lender wont offer the 3.75% rate on the refi and I checked with 4 different lenders and they are all not as competitive on refinancing.

That being said, if you treat it like a business, learn your market & avatar client, know and constantly improve your value proposition / competitive advantage - you'll soar past the competition. 

I think the numbers are not great on this deal because he is sucking a lot of the juice out of the deal by being heavy handed.

To be honest, I wouldn't go there because the competitions is insane!

more for a run down multi with heavy capex if you are aiming for a longish hold.

There's still plenty of competition to buy small MF (2-4 doors) throughout the Phoenix area.

Supply if competition and demand in the area will be needed to look at.

A busy office you will get the energy and vibe from other agents that you might or might not get in a virtual EXP type environment.I am an independent broker and have to fight to stay relevant in a hyper competitive market, I have EXP agents call me all the time, I wish I knew if it really is game changing or not.