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.

One of the Keys to Success in Multifamily Partnerships: Communication In the world of multifamily real estate, teamwork is everything.

Since then I've listed two other properties and had success on one.

I absolutely agree that building strong relationships within the real estate community is crucial for success.

The most successful investors have looked at thousands of properties in person in their lifetimes.

Kyle can have success with the right property but it really has to be the right property.

When I have inherited tenants, I have been most successful when I have provided longer non-renewal notices, like 60-90 days, and offered to assist with moving costs.

Transfer the $90K to a SDIRA, never transfer to a new company.

The bank and mortgage company we are using is giving us a hard time about us co-signing due to my separation and new job due to only having been separated a couple weeks now.

@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success.