I know that ideally, I reach out to my broker or any other reputable insurance provider to get a more accurate estimate.

Apartments are the least ideal living situation for us, so what if we got stuck in a multifamily property we intended to just be in for a short time.

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.

Focusing on homes that area ideally under 1500 sq ft. 

The structure will depend on the down payment, quality of borrower, terms of note, your cash out of the note sale needs, and other factors. 

Most ideal would be seller financing, but open to creative strategies for a cash-flowing property. 

Investors need to factor in zoning regulations and parking requirements, which are essential for smooth permit approval.

Ideally want to break even or cash flow with the 3 tenants.

Strong rental markets with low vacancy rates are ideal for long-term holds, while areas with high ARV growth are great for flips.

Vacancy and maintenance factors should be higher than for Class A or B.