Being in the right area, especially near a popular train/subway station, makes a huge difference in the value of a property.

Also, I am considering alternative financing options (beyond Hard Money).

Other Strategies: Are there safer or more profitable alternatives I should consider? 

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.

They’ve already made a name for themselves in Mexico with projects that blend eco-friendly practices and thoughtful design, and now they’re bringing that expertise to one of the most popular markets in the U.S.For investors, this could be an exciting opportunity to work with a developer who consistently delivers quality and strong returns.Check it out:  Travel weekly by Northstar

Open to hear alternate suggestions. 

A deed is given and accepted as an alternative to ("in lieu of") foreclosure.

Suburbs like Sandy Springs, Roswell, and Alpharetta are popular for their strong demand and rising property values, while areas like Southwest Atlanta and East Atlanta offer more affordable properties with solid rental yields.

I'm California-based where there aren't any real deals in my area, so I'm exploring Detroit as an alternative real estate investment market - due to the combination of it being a strong market and my having connections in the area. 

Laundromats and carwashes have gained popularity exponentially almost in the 6 years.