Many of these were lost in tax sales, and the ones that they got re-performing underwrote loan mods at low single digit interest rates during ZIRP and could not resell them at a profit once interest rates were hiked.

They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.

@Jake Santos don’t have experience renting out but have plenty of expertise from a tax perspective in regards to this.

We need:1️⃣ Guidance on purchasing real estate as a group.2️⃣ Expertise in establishing housing co-ops.If you’re a real estate, legal, or co-op professional—or know someone who is—please let us know.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

And their tax advantages go away when you decide to quit and spend the money.

They can guide you on tax advantages, asset protection, and multi-state strategies.A HELOC is a smart way to leverage your equity—ensure your financing structure aligns with your long-term goals.Since you plan to add multiple properties annually, consider setting up bookkeeping and financial tracking systems early to streamline your operations.Best of luck with your BRRRR journey—it sounds like you’re off to a strong start!

I get people calling crying they want to sell their lot they bought for $50,000 and I tell them they're lucky to get resale at $5,000...then of course they don't want to sell....but if they don't sell they're paying $1000 year plus property taxes for a lot that likely won't go up in value for years.So think about your exit strategy. 

Although Philadelphia is only requiring you to get General Liabilty, I think you have a bigger exposure to Professional Liability (E&O) insurance. 

Getting title and getting clean title for properties bought at tax auctions are two different things.