(Metro Phoenix includes the cities of Scottsdale, Mesa, Tempe, Gilbert, Chandler, Queen Creek, Glendale, Peoria, Surprise, Buckeye, Goodyear and a few smaller suburbs.)

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I was told by my realtor that the tenant should not be surprised by a significant rent increase given the comps in the area are roughly double what he is currently paying.

THAT is a Subset of a much much much much larger set called "All Possible Methods To Get Deals".Not because you got ALL your deals through doorknocking can you imply that door knocking works, much like you can't imply that all apples are red because it is an apple.Let me give you an other example.Imagine you have a list of foreclosures and you are ONLY marketing to that foreclosure list..Would you be "surprised" that ALL YOUR DEALS you ever made, were "foreclosures"?

However if it's showing up on across platforms such as Zillow and Realtor.com then it's active and I would be very surprised if the agent made private remarks that indicated it could not be shown. 

@Nick Littleton personally, I have not encountered this issue (I've done numerous owner occupant mortgages, refis, and HELOCs, and no lender has ever asked me about my property management experience, or whether I'm using a PM, or anything about how the property is managed...other than asking to see signed leases that correspond with the rent income I reported on my taxes), so I was surprised by what you described......I'm interested to hear from the lending pros on here: is property management or property management experience a commonly used criterion for loan qualification? 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I am surprised you found a hard money lender that can do seconds on your primary.

There are no capital expense surprises; only surprise timing.  

I've done BRRR's in the past, but personally, I'm not currently pursuing any strategy that hinges on hitting an ARV because--as you mentioned--the market is changing fast, and will likely continue to change...I'm always surprised (and a little worried) by how often I see newbies on the forums talking about wanting to flip or BRRR in the current market.As for rehabs, whenever I look for a rehab candidate, I'm not just looking to make aesthetic improvements.