The reality is you need to move off a few factors---fast solutions have slow problems, due diligence, have a healthy safety blanket reserve wise. 

Augusta indeed offers great potential with a strong rental market driven by factors such as population growth and a stable job market.

If cash flow means you make $8 more than your mortgage payment in month 4, awesome, you have $8 for that month.But.... if you factor in closing costs, make ready costs, leasing costs, repairs... it's typically years out until TRUE cash flow, with a value add or a turnkey (unless you absolutely knock it out of the park with a BRRRR and then somehow cash flow after the refi, which I guess is possible but very unlikely.)

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

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'm sure they are out there but this is just a rule of thumb and I would rather use J Scott's approach when he analyses deals outlined in his book.You factor in your desired profit as a cost and you work backwards.

The other contributing factor was the poor property management and sponsor asset management of the properties.

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.

Government assistance/tax credits are of course a consideration that is factored in to the cost/benefit analysis of any form of new energy generation, as all forms of energy are heavily subsidized and always have been, long before solar entered the equation. 

I'm sure there's other stuff you'll want to factor in - what businesses are moving to and from each areas.