@Blake McWilliams This is great advice.

Thanks for any advice you have!

Any advice on how to navigate this?

Any advice/resources would be greatly appreciated. 

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.

Just like every professional has a different pay range and skill cap, PM has differences in knowledge and skills.

Hello all,Has anyone sold a short term rental owned over a year  as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation?

Lots of good advice here already.

I have a real estate attorney that I have worked with in the past and will work with him on this also.Does anyone have advice on next steps and/or examples of terms, operating agreements, types of LLCs ect. ?

Thanks in advance for any advice!