Also, phoenix is great because the city is looking to kickstart free grant money for multi family properties in the next few months to renovate (up to 25k per unit), i was just on a zoom call discussing it with them before Christmas. 

Vanguard Money Market Account - Ticker Symbol - VMRXX - Today's Rate - 5.27% 

Money Mustache (Pete Adeney) is headquartered here in Longmont (across main from Longs Peak Pub) and there is a well-established FI community here. 

Why are you asking for any market as a new investor when you should be looking closest to you that matches the money you have to invest?

Let's have some fun and make some money!

If the first mortgage takes most of the property value, you might not see all your money back.

Then we would be profiting a clean $2k a month from just this property alone and still have money for a down payment for a house hack. 

A lot of people don’t realize this, but in addition to real estate agents selling stuff, they are also being sold, every brokerage, every title company, even lenders, have courses on literally scripts, how to build out your social media, how to find fsbo listings etc, truth is none of these are effective, pretty much the only way to be a successful agent is either ton of ad spend or the hard work of meeting people in person through events meetups etc, but brokerages make money by head count, even title and lenders are happy if you close a few deals a year with them, so they sell this stuff to agents who than use those scripts on you, it’s a whole prymond scheme lol

Whether that is putting more money down, rent by the room, mid term, short term, etc., there's just no path that I see to get any real month to month cash flow (like actual cash flow, not spreadsheet cash flow). 

While it is cheap money (interest rate is typically set at prime + 1%) the loan must be paid back using amortized payment over a period of 5 years.