I personally have a 4 unit that cash flows in that range. 

In AZ, the predominant building segment has been in the higher price range of semi-customs where builders could make more profit.

However, the insurance broker I met with estimates in the 50-60k range.

@Joe Benson What are properties in that price range currently fetching for rent?

It is "the yellow book" covering all the basic rental practices and even imparts the unique landlord sense of humor you will develop over time  (via the funny cartoons).

At that price range, it has slowed a bit, but before a drastic price cut, how is the marketing on the property?

Do you have an estimated range for the water charge?

Someone from your area will know better but there are buyer side closing costs you will incure...On my last deal, $120k it was in the $8000 range and I am a cash buyer with no lending fees.

To me this means having a primary residence in the under $1mil range (but doesn't necessarily have to be under $500k).I will still have school aged children and need access to great schools, ideally public to avoid the cost of privateI would still value the ability to access metropolitan environments, though I don't need to live in the urban core. 

I imagine they'd want to lease in the 5-10 year range and then complete the sale.