I did some decent renovations on it, and it's very close to downtown Phoenix (8 minutes - no freeway needed) and close to the main university hospital in downtown as well.

And the fact that you have 6-months of expenses saved up prior to inheritance tells me that you're disciplined and decent with money (this is relatively rare).

In addition, real estate is already tax advantaged, so you’re losing the tax advantages of owning real estate.Personally, I think real estate notes are better suited for self directed IRAs personally because you can get decent returns and notes not held in IRA is not tax advantaged. 

There's no problem with a seller's agent egregiously pricing things when the FMV states differently, so there's no problem with a buyer being egregiously aggressive too.

If you’re concerned about paying personal capital gains tax, remember that flipping the property means you’ll take the profit all at once, while with BRRRR, you can defer some taxes and have the property generating income.So, here’s what I’d do in your shoes:If you can make a decent profit flipping and then use that cash to roll into your next investment, you might be better off taking the cash, at least for the first project.

If Fayetteville is a seasonal market, I would get very aggressive on price so you can get someone in before Winter. 

As long as all the rooms are decent size with closets it could work and you could get closer to what you want in rent. 

I have thought about reaching out to cash buyers who have a decent sized portfolio about possibly managing their STR/MTR homes.

It never hurts to call them back to see if they have any idea what they are doing just for the reason you said - if they are decent, hop on that list.

You can find some decent deals in Lawrence I just helped a customer close on a SFH last week.