I plan to be here often but have been listening to the bigger pockets podcast for the last year now, and have consistently been saving to make my first investment this year.

We are planning on purchasing an STR (probably condo) in the Treasure Island area of St Pete.  

By understanding the costs you may encounter upfront, you can take control of the process.Here are just a few things experts say you should be thinking about as you plan ahead.1.

I already make a living out of real estate and I'm not planning on ever leaving this space, I'm here to stay. 

Even with some people I believe are honest, I simply believe most do not properly analyze and manage risk, as is evident with nearly every syndication doing capital calls right now because they didnt properly plan for rising rates.Dave Van Horn however, along with his company PPR one of the few people I trust in the real estate space.

Additionally, strong tax planning is essential, as your W2 income limits your ability to deduct passive losses.

I suspect my next purchase will be a web based business like yours, but I am probably a couple from saving enough money.

The six month cd isn’t the point my understanding is that I can’t just take out the HELOC, I need to actually use the money for my plan to work and a short term CD seemed safe and reasonable 

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.

Planning to sell my property in vegas, just wanted a second opinion on if these are typical, fair costs in today's market.