It truly depends on what your goals are as some investors purchase properties for rehab then sale and some others like myself, purchasing them for appreciation and a steady monthly income (small amount but cumulative over many years).  

However, that amount can get us 2 more "Memphis type" properties and continue us on the slow and steady curve.

But the place we live in is a large, purpose-built duplex that was originally built for a local heiress, and we rent our upstairs apartment at slightly below market value to a PhD student at Pitt and her very steady boyfriend.

At his age, and without a steady income, getting a mortgage or HELOC, seems like not a great idea.

All it takes is the correct humidity, temperature and situation and mold will grow very quickly.

The reverse, a management fee that is steady even during vacancy doesn't incentivize turnover, which is a plus.I'd encourage you to evaluate how they are performing for you more than their fee structure. 

If you have a nice place, you may be approached by a staffing agency directly who will provide you with a steady stream of tenants.

I do have some properties I found if you don’t me sending them to you to see what you think of location and if the income would provide for my mortgage payment aswell as having a steady income from the units.

My current goal is to have steady streams of cashflow so wondering which market would be most beneficial for that given one PP in PHX could equal two or three PPs in IND but PHX/ATL are much bigger cities with stronger fundamentals.What are your thoughts?

Both with steady income.