So my question is: assuming a similar initial downpayment, would you recommend:1- get another place in Meridian or Nampa - I am afraid of being too concentrated in a smaller market, lots of new construction, and not sure of very long term prospects2- Go for Provo despite lower cashflow, but less new construction to compete with and booming, well educated population3- Go for Surprise or El Mirage since Phoenix MSA is so hot and booming with potentially better cash flow than Provo, but lots of new construction to compete with.The properties I am buying would be considered B or B+ class.  

This way you can test how hot they are to purchase, thatll give you some idea of how quickly it will move.

Your basic model is fine.

This means you are competing with everyone and in a hot market this means you are likely not going to make a profit on these unless you scoop something up day 1-2 and get lucky.

We purchased a home on WIlmington Island, a very hot housing market area.

My models have the duplex cash flowing roughly 5k a year based on purpose price, down payments, and local fair value rents.At 5 years, the yearly cash flow would be right around 50k with 25 doors and a chunk of cash in the bank if I only stick to the minimum 2 doors per year at the planned purchase price.

"Fund the deals and we'll go 50/50 on another property portfolio of 5 properties and aim for the same return - the model is proven". 

Especially when it's a hot property.

However...I have an addendum that allows for the itemization by type, mfgr, model, serial number and current market value of each appliance I leave.

So here's my question, how/what is the best way to structure this business Model.