Areas like Downtown, Summerville, and West Augusta are particularly desirable due to their proximity to amenities, universities, and employment centers.In terms of your preferred strategies, it would be helpful to know what type of lending you plan to use.

The structure will depend on the down payment, quality of borrower, terms of note, your cash out of the note sale needs, and other factors. 

I completely agree that starting early is key to long-term success.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

As a long-term hold investor, I see this property as -$600/mo to -$800/mo depending on whether you use a PM or not.

You are still exiting with a refinance and thus the terms wouldn't change on the exit whether you are buying in cash and then refinancing versus doing a construction loan and then refinancing.

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.

I would have asked you what your long-term goal is but you have already thought about it.

Being prepared for these hurdles can make all the difference in achieving long-term success.

Forgot one detail the new California based lender committed to funding as long as the property isn't in an evacuation warning area.