Having $3MM of dry powder during a potential downturn is EXACTLY where I'd want to be, not invested in a property that is simply treading water, especially in a more expensive market.I am of course assuming a downturn, but there is no denying that even very active money (i.e. more time available to spend on adding value) is having a difficult time finding quality deals today. 

I believe I am then in a great situation to either save some money month to month from my current situation to invest in other things OR replace what I am paying for my apartment and just contribute that amount to more equity in my home since I can live comfortable now spending the same amount on my apartment rent each month.  

I have more free time then I would like, so I spend countless hours browsing the internet to find blogs, books, videos, and discussion forums to learn from.

@Mary Jo @Rhonda Blue I am obviously inclined to agree with Rhonda, I remember spending Christmas day on the beach the year before last, it was 75 & Sunny :)Best of luck in your search!

Spending a quarter million dollars to only get 3 grand a month isn’t very exciting .

To say that a contractor should never be spending their money is WRONG.

Nothing wrong with finding one now but your time is better spend looking for contractors. 

Not really spending anything on it. 

Spend that money on where it matters most, kitchen, bath, fresh paint etc. 

There has been a ton of luxury condos built in that area and in Scottsdale, and the prices seem to defy reality for what you're getting (No land, no driveway, shared walls). 500k+ for a townhouse/condo as a personal residence is one thing, but it seems like a lot to spend on a rental property when you can only rent it for around 3k.