Taking apps and structuring loans is only one part; you also have to understand marketing, lead gen and prospecting, and day to day business management.

But like @Ryan Harrell and @Min Zhang said, be prepared for a counteroffer or an outright rejection.As a rule of thumb, if I were you, I’d ask myself: if I had to pay full asking price for the property, would I still want to do the deal?

@Brandon SarrettKeep in mind just because the tenant is month-month and you can raise their rent doesn't mean they are going to pay it or can afford it.

Phoenix is a hot market for housing investors due to its increasing population, healthy job market and steady demand for housing.Why Phoenix?

You will on average pay more for the same deal, you have to hire a GC instead of just subs, your contractors may charge you a little more, order too much material or make mistakes you would have caught, if you would have been on the job at least 3 times a week (like I do).

Average long term rent in my market is $1100.

I see a lot of newer investors getting into the market thinking flipping houses is easy money.

After ignoring advice, their next post is often, “How do I evict my non paying tenant?”

I would strongly advise you to pay a visit to the City and walk/drive it with someone who knows the various neighborhoods and property values.Much of our multi listings come tenant occupied.

They may want you to put some kind of disclosure in the offer about buying under market value for the intent of making massive profits or something like that.You'll also want to know what kind of split your broker expects from you if any.