You aim for guests, health workers, students, and travelers.

And then meet the trucks on delivery day and take responsibility for counting, measuring, signing for the materials?

The key to success seems to be aiming for growth while maintaining a good product, whether that means buying bigger buildings or focusing on a niche of small-to-mid-sized buildings. 

One thing to keep in the front of the pages, is to remember that the equity will have an APR, depending on the property you are aiming.

Is it a payment target you're aiming for? 

It's not a perfect measure, but it's very close and year to year consistency is highly reliable due to limited new rental inventory

CPI measures general inflation for consumers for major individual expenses such as food, gas, shelter, and other basics.

Hi Ashni, It'll all depend on what parts of PHX you are aiming to be in and what your investing strategy is. 

So that's the number that I'm aiming to replace.

If I'm in your shoes, I would keep tabs on comparable sales in my areas (I believe Zillow lets you setup alerts for sales in your target areas) and use those as your best measuring stick for figuring out your own value.