The "liberal arts" approach would be to tell you that sophisticated investing precludes buying either equity or cash flow - we create both, not buy them.A more mathematical answer would be to tell you that the 2 most applicable measurements of ROI are the cash on cash return (CCR) and the internal rate of return (IRR).  

The overall vacancy rate is not atrocious, 11% which tells you they rent fast for right price.You are in a low income area, median household is barely $36k/yr. 98% of the local residents didn't go to College, so you get an idea of the wages. 

As a broke college student I would like to learn from example. :) I hope all is well with you and I look forward to the new ventures with you all. 

I know there is internal, emotional pain in seeing animals taken away by the local authorities. 

I'm 18 years old and am taking a year off between high school and college to study real estate on my own.

I'm 18 years old and am taking a year off between high school and college to study real estate on my own.

I had recently graduated from college and was working as a bartender at a local beach bar.

Being a college town with a strong oil/gas industry presence, I expect rents to remain stable and/or even increase over time.

Would it be possible to possibly intern for you or something to learn about the Phoenix market.

Properties in other price ranges are hard to find, but there are bargains, still.If you are interested, I can connect you with someone who used to be a student of mine at University of Alabama College of Commerce, and who got himself through school on income from his real estate investments.