@Matthew Brown, I am not in this investment, but I would love to hear what drew you to it in the first place: how you heard of Fairway America, why you ultimately chose to invest with them and in this project?

Especially after capex, vacancy, management fees, etc etc. 

I went in one day and manager asked if I would be interested in buying a shell that was in default.

I’ve seen folks pivot their plans quickly if they discover one city has friendier permit processes than another.And yeah, the Phoenix area has some really down to earth investor meetups, from what I’ve heard, that can help you level up fast.What aspect of the business are you most excited to tackle first.. managing construction, or scouting out those under the radar leads?

Sure, about one in 2000 times, by someone experienced enough to recognize a very unusual situation, having the capacity to act on it, having the financial strength, experience and tract record to be able to attract the needed capital, having the knowledge and ability to structure the deal, having the ability to manage and or reposition the property after purchase, and having the capacity to carry the negative cash flow until turning the property around or obtaining lower cost financing.  

I feel that MLS is not accurate because not all property managers put them in. 

But what I will say is that he is a disastrous relationship manager.

The other tenants would call the management company on Saturday to report the air conditioning failure and were told that a service person would fix the problem on Monday. 

Rental income is subject to tax, but it is also possible to deduct many costs related to owning and maintaining rental property, including property management fees, repairs, and mortgage interest payments.Additionally, for those investors holding properties in Germany for the long-term, the country's capital gains tax law is attractive.

Analyzing the neighborhood and the asset condition is the key to projecting accurate returns.