The high cash flow may be diminished by the age of the building and possibly more than expected repairs and replacements upfront and ongoing maintenance.    

With self-directed IRA the sky is the limit.Of course you must be aware of the IRS prohibited transactions and be sure to stay away from those:https://www.irs.gov/retirement-plans/plan-particip...Selecting appropriate investment option depends on many different factors such as your age and investment horizon, your risk tolerance, investment experience, etc.

Great info @Michael Badin and@Hunter LockeThis was a great nugget for me and IRR has a Providence, RI office!

Also, I can't really say anything about this analysis because there is very little info about expenses.

We've read/heard some conflicting info and would love to hear from Phoenix-area investors.1.

For more info on this subject, check out my most recent article for BP on using real estate contingencies to your advantage. 

@Michael Garofalo Unfortunately I'm not the best source of info regarding B-class neighborhoods... as for inventory, I can only relate that in my experience, the MLS seems to have dried up for small multis-- I'm sure they're out there, just not nearly as plentiful as they were last year.  

@Matt DeSalvo I have a great insurance agent, PM me and I’ll get you his info.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I don't really have a support system (hence i've been on my own since age 14) so I go out seeking opportunities on my own, and calling various people for advice.