You may also want to research the inventory for 3 units vs. the inventory for 4-units to help determine demand.

Here in the Phoenix area most of the market is a seller's market, not from strong demand, but low inventory.

Flips are considered inventory and all work you do on them is considered COGS. 

Let me know if any of you guys are looking for some inventory in the area!

I was born in Canada but all my inventory is U.S. based.

Low DOM and related seller advantages vs. extremely low inventory and crazy competition on the front side.

The Qualified Use requirement of buying and holding for rental, investment or business use will not have been met because the investor's intent would have been to buy and hold for sale (inventory), which does not qualify for 1031 Exchange treatment. 

Yes you do not pay owner or developer anything until the sale is made.Good luck.P.SLet's discuss your buyers list maybe we can make some money together I have the grade A inventory.

Are your leasing inventory similar to or much different compared to last year?

Like @Chris Ramos said - a lot of the duplexes you'll see on the market are in the less desirable areas of town, hence the reduced price and increased inventory.