Do to the state mandates that require 100% reserves in all categories, combined with the rising cost of their neighborhood insurance policy, my strong recommendation is you find out what further anticipated spikes in association dues & if any possible special assessments are looming.

This year, I’m committed to creating balance in my life, letting faith guide my decisions both personally and professionally.In my real estate journey, I combine my tech background with a passion for community-centered development.

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.

These marketers would have the novice investor believe that the narrow focused “education” they provide combined with the “holy grail” formula (wholesaling, subject to, flipping, lease option, discounted note purchase, etc.) is most, if not all, anyone needs to become “independent” and successful, usually by month 12.

I am also a huge fan of real estate and for the past 50 years there's been a way to combine both.By leveraging a Self-Directed IRA, real estate investors enjoy both the traditional advantages of property ownership and the additional tax benefits of retirement accounts, creating a powerful wealth-building strategy.

@Ashley Kehr I use a combination of Apartments.com for rent collection, RentSpree for tenant and background screening, and Stessa for accounting.

All units would be metered so data would be there to bill the tenants (so no ability to question the bill) but landlord would still pay the bill given we can not have 4 main master water meters (can only do 2 x1 master meter + x1 sub meter combinations). 

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

The low purchase price, combined with an established market demand, made this an ideal transaction for a fast turnaround and profitable outcome.

If you do, you should expect a very aggressive challenge by the IRS.At $350K of combined value it might be worth the cost to get a segregation study if you intend to keep these a long time.