At least spread the fee out over the tenancy, standing behind your placement choice.  

I'm in the Phoenix market, you can still find good prices off/on market and get good spread on deals all over out here.

It looks like you have a healthy spread from purchase to ARV. 

From there, narrow down your budget range and then start shopping more seriously.

Maybe it will help narrow your focus on specifics:1.

Once you've narrowed it down, check out similar properties on Furnished Finder and Airbnb to begin with to see how they're decorated, what amenities they offer, how much they're listed for and what their calendar availability looks like.

In today’s market you need a GREAT spread between your purchase and ARV values and that isn’t the easiest thing to find in a high market. 

A .5% post-tax "spread" between highly volatile projected stock market returns, and the guarantee of a 7% return (by not having a mortgage payment) just makes no sense, to me. 

Narrowing down your goals will help you better choose a market the fits your investment criteria.

Keep progressing forward, while narrowing down your asset type considerations, market, and your other macros.