Here in Colorado, for instance, to get a pure Airbnb investment property, you're looking a highly differentiated property -- you gotta be different to really crush the numbers. 

I think in some markets ( like Hawaii that has sky high electric bills) it could.. others probably not.

Example of one I have when I lived in a different state. bought from a highly distressed seller for 10k cash.

But I think prices have risen so high in the Phoenix area that it's kind of scary to jump in.

Take a look at how far in advance people book for high season so you don't miss any lucrative bookings. 

If so, I would highly recommend attending local meetups.

To help in your search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

IMO - 9.5 is way too high to take seriously as a buyer. 

Expenses do not included management fee as it is self managed but other then that not so low. it is the rents that are relatively high.

That being said, like most things with being a landlord, if you are a decent person treat your tenants like people, remain communicative and respectful, make necessary repairs, it is highly unlikely you will ever get sued or anyone will ever question if you did everything by the book.