We bought a 55-unit last year in the same market, a market we've been investing in for seven years.How we found itOur property manager brought us this opportunity (and the three previous as well).

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

For our larger park we have a 'Maintenance Manager' set up for up to 24 hours per week as needed with OT for after hours emergencies. 

Hi River, Yea, I'd be happy to connect and chat it up about opportunities.

If you planned on moving out of a house and buy another property, as an example, you could pull a HELOC before you moved out and keep it as an emergency fund.  

Apparently there was supposed to be an emergency meeting last week with all GPs and LPs but somehow I did not get the email.

Your clients should focus on properties with significant equity potential and work with experienced contractors to stay within budget and timeline—especially with borrowed funds on the line.Avoiding Bad Deals - Encourage them to work with experienced agents, contractors, or mentors and always run multiple scenarios, including worst-case outcomes, to stress-test their numbers.Reserves - Advise your clients to keep a reserve fund separate from their loan for emergencies, unexpected expenses, or delays.

Another aspect of this is parasitical family members who are suddenly "close to you" and need accommodation because of some unexpected and horrible and unfair emergency. 

Any sober living investors out there willing to let me pick their brain on how to underwrite a potential deal?

@Dylan FraembsThe Providence market offers solid opportunities, especially in multi-family and value-add deals.