Apartment demand in the Phoenix area is high, the demand far exceeds supply at least for the product mix I have under management.

My interest rate is 7.1% so my mortgage is $1000 more than what this property can rent for right now now.

Great to hear about the pursuit of a multi-family property!

Plus, it includes one year of complimentary property management to boost cash flow.

New to all of this and I am looking in to buying a duplex in the Portland area as my first rental property.

Fast forward twenty years and (maybe a $100M in cumulative real estate transactions later) and I'm still advising investors on asset management, typically focused on real estate as an agent OR mortgage broker, but conversely with clientele of my own age group with similar goals. 

I just have 5 units and am doing other work to help pay the bills in addition to doing all the property management myself (upkeep, repairs, cleaning in between tenants, mowing, finding & interviewing tenants etc).   

Did the property that had new cabinets sell for 25K more or no?

If this is an STR, DSCR lenders will require that you have booked the property on an STR site for 12 months or have 12 months of prior experience with a different property.

You put a down payment on the property.