I personally wouldn't quit a stable job with the intention of living off rental income or income from a new business in the current economic climate. 

Cash-outs in this climate are going to be viewed as an even larger risk. 

In the current climate I want to keep more cash on hand.So now I'm entering the Hard Money arena.Can I have some advice on what to look out for, how to prepare.

I guess other than that just curious what other people's thoughts are on what you are trying to do and with the current climate if anyone is nervous and rethinking investing in the greater Phoenix area.

Due to the contentious economic climate I can't help but think that after the pandemic there are going to be a huge flood of foreclosures. 

In the spirit of friendly helpfulness of our community, I'll share some general tips that may help:1) Look for a city with a variety of economic pluses including: a diverse employer based (i.e. no one or two major industries dominate the market), a desirable climate, easy access to nationwide transportation (airports, interstate highways), low overall crime rate, growing demographic of younger families and singles.2) Find off market deals. 

My guess is one of the biggest differences is the political climate. 

In COVID climate not only should you get professional photog but you should do a virtual tour of it so people at home can view it at their leisure.

Political climate towards business, crime rate trends, data on job growth, age demographics, etc. 

Most exterior cap ex items last longer in milder climates than harsh climates resulting in lower long term costs.