On year five of owning my rental,  3 BR. 2.5 ba. house I purchased in 2004 around the time of the peak pricing of $295,000.  

Connect to banks, wholesalers, realtors, your close network, cold call, door knock, FB marketplace, Craigslist, peak on Zillow, options are endless :)

Scenario - Sellers bought house in highly desirable neighborhood in Phoenix, AZ at peak of last crash.

It pays our mortgage at minimum every month, and during peak season, it's double that. 

The peak was back in April/May, but the market is still pretty warm.

I personally think the market is peaking and now is a bad time to stretch yourself and take on higher risk.

I agree that in a normal market doing a house hack like previously suggested would be the smartest way to get started for you, however you have to understand that Midland is at its very peak right now for house prices, which is why I don’t buy here at the moment.

Prices are still below their previous peak (i.e. ~2006) levels in most areas (which were not even crazy high to begin with), yet rents are at an all-time high.

We do still have peak and slow seasons. 

ClaytonI have become aware of them as i brokered a few deals were the seller was doing this.. and some of my partners have family foundations and they are right now as real estate has peaked are moving the assets to the foundations..