Sadly it is always overvalued for the locals as well.For context: the same comparable duplex a client purchased for $750k last february 2023 in Lil Havana is now asking $925k.

To find someone, I’d start by reaching out to local rehab centers or recovery organizations as they often know operators who are looking for housing.

Focus on building a strong team, using BP tools to analyze markets, and researching local laws.

Here are a few tips:Asset Management: Holding your property in the LLC can protect your personal assets, but check with an attorney or CPA to ensure it’s set up correctly and complies with local laws.Rent Collection: Collecting rent through the LLC simplifies accounting and keeps personal and business finances separate, which is a big plus for taxes and liability.Property Management: Since you’re self-managing, the LLC can be used to formalize agreements, pay vendors, and manage expenses—treating it like a professional operation.Just make sure to consult an attorney or accountant to align your setup with your goals.

You can also list on Facebook Marketplace, join local Section 8 Facebook groups, or contact CMHA directly - they often have a list of people looking.

Metrics and local zoning rules and regulation awareness is the key.  

I live in Flagstaff and work for a local contractor.

If you’re looking to invest in your backyard, it helps to network with as many locals in the industry as you can.

Keep the loan local.  

I am debating using my local lawyer vs. finding a lawyer in the state where the property is located.