Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

This aligns well with your goal of achieving $11K/month in cash flow and retiring within 5-10 years.

Sign an Assignment of Contract:      Check the terms of the contract.      

Quote from @Ryan Pham: Is there a reliable way for to est income of a furnish / short term / airbnb  incomevs long time income ( I know this can be est looking at comparable posting in same area )I have a 3 bed / 1 bath small townhome ( hoa approved ) I like to try to fully furnish and do airbnb / fully furnish rentalThis unit is 1 mile from Banner Desert Medical Center ( traveling nurse ?

Here were the results:Sales Growth: As you can see, Raleigh and Durham are VERY different in terms of Existing Home Sale Counts YoY.

As long as you don't lose money. 

Each option has its advantages and disadvantages.Finally, think critically about your long-term strategy.

In your experience, does one approach lead to better appraisals, loan terms, or overall outcomes?

No kidding this is as simple as it gets.. just advertise that you accept shorter term leases and riase your price.. we have been doing it in Vegas for years..