How to make $150k in a year

[LevelUP]

You don't, most places. A median house price in Phoenix seems to be around $400,000. Assuming that you can put down $40,000 (10%), then your monthly payment (at 5% interest) will be around $2000/month or $24k per year.

Since when are mortgage rates 5%? You're looking at 6.5%+ now. More like 7% in most places. 

Did you see the state of said $20K houses? They needed a boatload of work. 

Owning a duplex is great when the tenant pays and the place doesn't need many repairs. Covid left many landlords with deadbeats who weren't paying their rent for years (depending on location). The courts are finally get through the evictions here. Meanwhile, the place was trashed and the landlords went 3 years without payment.

Yes, that is a ready-to-move-in house. 

COVID, deep breath, don't get me started on COVID.