(I work with some challenging populations and the extra effort has paid off in these situations.) 

.- extra storage space so tenants don't feel the need to squeeze their entire lives into one room (extra garage space, attic, detached shed)- room for 2 full refrigerators!

With affordable property prices and a growing rental market, it can be a great option for long-term cash flow.If maximizing short-term rental income is your priority, a home closer to Nashville could be worth the extra cost.

Many of them treat the home as their own and stay long term.Multi's are nice because they generally produce more cash flow, but do require some extra attention.

I've been on the western slope for over 30 yrs.I built my primary, its; Slab on grade, stucco, concrete roof, painted with E-84n roof soffits and tailings fire caulk (anti-ember) vulcan fire vents, 4 car wide concrete driveway, extra large house numbers, red 3/4" hoses on reals @every corner, completely denuded of vegetation 100ft.

Stay disciplined and avoid rushing into deals without thorough due diligence.Resources for InvestorsIf you’re new to investing in distressed properties or looking to expand your portfolio, consider leveraging resources like:Local Realtors: Realtors specializing in distressed properties can assist in locating off-market deals and navigating complex transactions.Community Forums: Attend a local investor meetup or join online forums for the Phoenix market.Educational Tools: Search out webinars, workshops, or courses on investing in distressed properties.Final ThoughtsThe distressed property market in Phoenix is creating some excellent potential for the right investors willing to go the extra mile necessary to take on strategic risks associated with this category of real estate.

•I’d compare this deal to similar non-flood-zone properties—if the return is much better, it might be worth the extra risk.

One reason was the condo management company wasn't doing a great job and there were always extra levies. 

Private notes require more work than Stocks / Bonds, is the added return worth the extra work?

At this level of scale, it is almost the same as running an extra unit.