Quote from @Sunny S.: A 40 year old 4 plex now cost 180k approx but to rebuild it now will Cost 1 to 2 M since it have 5000+ sqft .So insurance premiums based on rebuild cost will be higher.

Thanks Sunny - I'm researching 30-50 owners a month but the main information I need is accurate phone numbers and current mailing addresses for the owners, which most often aren't updated on the property appraiser's site. 

Nonetheless, I think AZ is a good place to invest, specifically because of the sunny weather brings a lot of rental appeal. 

Not trying to be harsh, but if this is your first home, do you need a $500k POOL home?

But what I did get were 2 bedroom pool cabins.

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to, “Maintain to the Neighborhood”.Why is that important?

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to, “Maintain to the Neighborhood”.Why is that important?

Realistically, however, it is hard to imagine clubs pooling only a few thousand dollars per person being composed entirely of accredited investors.

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to, “Maintain to the Neighborhood”.Why is that important?

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to, “Maintain to the Neighborhood”.Why is that important?