I added a basement to this house and put a bedroom with a full bath

You still have the same fixed costs associated with construction so they usually aren't that much cheaper than, say, a basic 800-1000 sf house, which will probably appraise for more and appeal to a larger pool of renters and buyers.Don't get me wrong, I still love the idea of tiny houses.

Have you thought about a 5% down CMHC loan, where you could buy a bungalow as your primary residence and add a basement suite (or buy one with a suite)? 

We have a lot of rent-by-the-room buyer clients and buyers who look for that home with a basement apartment or separate space to create extra income. 

It is the same as house hackers who have a basement unit. 

While you are at it ask your auto body shop owner why they charge $2000 to replace a bumper on a basic car that used to be $600? 

.- If married or wanting privacy, do what I did and find a split level home or one with a basement and treat it like a duplex.

The next property, if you occupy it, will require a lower down payment than a non-owner occupied property.I don't actually have much experience with that model after my first house since I've always had the down payment cash needed to purchase both my primary residences and my investment properties, so I've always gone with a large enough down payment to get the better rate on the loans.Many programs will let you get 3.5% to 5% down and if you feel comfortable enough renting out rooms or a basement or whatever, you can hack your payment to be lower by the rents you collent.In my case, SWMBO is not OK with me renting out rooms, etc., so I can't house hack.

Make sure you are ready to start managing for others.This is a good time to get a basic site/marketing up and running.

@Samuel Glantz - just did a basic MLS search and there are 53  four plex units that active in the Phoenix market.