investors in Scottsdale, Arizona, help with deal analysis
I've been given the opportunity to rental arbitrage a 4 bedroom house, 3 bathroom, 2 kitchen and living area home in Old Town, Scottsdale, AZ. The rent is $3450 with landscaping and pest control included. I would have to be responsible for other utilities. There is no pool BUT there is a putting green in the backyard. As I am searching online, it looks as if it's very hard to get bookings for AZ. According to airdna, the unit will rent out for $400 but when I check on airbnb, there is a LOT of competition and these places look amazing with a lot more amenities like a pool/hot tub renting out for the same price.. while I believe that my unit has A LOT of potential, I am a newbie and am getting concerned that I will lose money on this deal. I live in NY so will be managing remotely. Is this a good deal and what can I do to minimize risk?