I am mainly curious about the practicality of putting in the next 12-13 years to achieve some measure of reliable income.3)  Madness - I am honestly not sure why you think investing in real estate for me is madness.  

A Far better quote to have used would have been:"I don't measure a man's success by how high he climbs but how high he bounces when he hits bottom" - General Patton

I've never purchased a property wholesale, and I do exceedingly well on the SFRs I own by any measure, so I think there are many ways to buy deals, esp. in an appreciating market like Phoenix.

Whoever's bid I like most (based on turn around time and price) I have them come out and get the exact measurements and look over any issues I may of missed.

Cap rate is nothing more than a yardstick designed to measure the prices folks are willing to pay in a given market for the purpose of comparing one property to another. 

You should take various flood proofing measures when rebuilding your property to make it better this time.

Every measured level from Age, Income, to Household type have increased the Rental market share.2)It's a Supply and Demand Issue, both in SFR rentals and multi-family- 15 year incline.

I have heard it is 50/50 but have also seen that people are supposed to make the measurement of deductions based on square footage.  

That said, the triggers are not all financial, and most cannot be measured in dollars and percentages. 

A lot of them are asking for the govt to implement some sort of rent control or other measure to influence housing prices.