In order for you to make a good decision to stay in real estate and do a 1031 if selling that AZ property is warranted.And at the end of the day there is the crystal ball factor :)

But if your goal is to cashflow positive from the Day 1, you may find it very challenging due to current day interest rates, high cost of construction and the fact you won't have the efficiencies of a seasoned developer building at scale.

I exited the market due to the short term rental regulations - properties that are rented under 90 days are considered short term.

We managed a property for someone once in an area not quite that bad and my property manager came back one day after a bullet went flying by while she was there.

The days we knew back-when have been sadly mostly lost, to the loss of everyone. 

Properties like the Michigan complex offer a unique entry point, combining cash flow and significant upside potential.Immediate Cash FlowThis particular property is projected to deliver 6% annual cash flow from day one, already exceeding the yield of Treasuries.Value-Add RenovationsThe property includes hundreds of units that can be upgraded to Class A finishes, justifying rent increases.

As of August 17th, 2024, gone are the days that any Realtor can meet you at a property and show you one-offs. 

Painting, for instance- an amatuer could take their time and paint a house over the course of a couple weeks and do a great job, but a professional crew could do the entire job in a day. 

Getting a great STR like you are telling us about is more rare these days so I would be interested in the purchase price etc.30k a month is a huge number.

There's no day like today to start investing.