Always good deals and a very high demand from tenants needing housing.

Could I be a prick and demand 1/2?

I've had two demands come back at zero for very old recorded voluntary liens.....the change in law would explain that. 

NO ONE can come to you and demand more for their house when your offer is fair, legitimate and realistic... becuase they KNOW damn well, that their kitceh is not in that perfect shape they thought it was just before they themselves made themself realize that dang.. my kitchen really is a old piece of crap.Once you go through that stage.. you schedule a walkthrough where you confirm everything and make them on offer.And that is all there is to it.Yes yes, I am awesome..

If they demand it then walk from the deal.

For those other costs, you could subtract $200/mo for repairs & capex (~1% of home value per year), $100 for insurance (not Arizonan, so I'm not sure if this is right, it is for my market), and another $100 for vacancy, which works out to be ~6% which in a high demand area should be reasonable.It's rather tight, but at the refi I suggested it would also be a "free house" for you.

So I think there will always be consistent demand.

But this could be a risky option as well because I would need some cash up front to furnish the house and the demand is uncertain as well. 

If you want to get a feel of the demand, post it on facebook marketplace and see the response you get.

It is tied to supply and demand.