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.

So, you tell me, would you have considered this transaction as cash?

It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.

It was a wild time for subject to transactions while interest rates were increasing, property values were increasing, and lenders were stuck and could not call loans due when a property was sold or transferred.

The listing showed a price and transaction history for the home.

With record low inventory and sales transactions there's no low hanging fruit.In this market we think the best opportunities are value-add (BRRRR'ish), zoning changes allowing density (ADUs), or seller financing deals (buy a lower rate).

"The man who represents himself has a fool for a client" was said about attorneys, but it could be said about a new investor representing himself in a sales transaction.

They reversed the transaction initiated by the hacker and I can withdraw the money from my account.

What does the transaction process look like on Auction.com if you win the bid?

When starting out in wholesaling real estate, it's important to use agreements that protect all parties involved while ensuring a smooth transaction process.