👏Regarding subcontractor contracts, it’s essential to have a well-thought-out document to ensure clarity and protect all parties involved.

The other is a smaller operation which does a lot of business in the specific neighborhood the house is in.  

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.

Hard part with business is separating your emotions from it.

Love AI in the business though. 

I made a similiar mistake in business, paying $1.1M upfront for promises and had no way to cut losses when those promises were not delivered on.

Part of the reason why the rehab was cost effective was because I have a long relationship with contractors, have experience, and I also give this contractor a lot of business.

I am actively expanding my STR consulting business!

Securing funding has been challenging, particularly because my business documents reflect low revenue from only one duplex, and I am currently between jobs.I have identified a reasonably priced piece of land and have saved a small portion of the funds from my duplex sale to invest in this venture.

Personally, after working with numerous property managers in Las Vegas, I only trust two to handle this task for my properties.Compliance Is ComplicatedProperty management involves navigating a maze of city, state, and federal regulations.