Your best bet is to call local property management companies (your competition) and ask what they charge.

He is going to school on line to become a teacher.

The rent comparables, expense assumptions and capex budget look reasonable, although I must admit I have limited knowledge of the market this property is located in so I'm relying on online sources to verify rents. 

I'm probably your best bet for under $30k performing notes, but I'm not typically lending in Arizona.  

I think your best bet is to JV it with a contractor that can do the needed work (providing the materials and labor) and then get a renter in their as fast as possible and stabilize the asset. 

If you need anything done online Let me know@Cory Mccarthy - Thanks so much for that info!  

BP not only lets you connect with other investors, it also has free information including online courses and videos, for you to watch and learn from.

It has tons of great resources including free online courses and videos.

Your best bet right now it to stop researching and start taking a few actions to get yourself surrounded by smart mentors or experienced investors who are willing to be a sounding board as you get started.  

But searching through listings available online, there seem to be quite a bit of inventory as well.