They're a great resource for these situations!

Same tax situation and more likely higher potential to appreciate faster.

I think you'd find it very helpful in your situation.

Keep us posted on how that situation goes for you.

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.

Get a big downpayment so that the buyer doesn't end up in the same situation 5 years from now.

@Derick Jennings Without knowing more about your situation, I'd likely recommend a house hack, a strategy I wish I would have known about when I got started.

Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

I’ve seen situations like this before..one old friend of mine in Austin had a few industrial buildings where the cash flow was decent but not dazzling, and he was itching for a way to ramp things up.