Working with @Benjamin Carver or another good agent to help find and close on a deal will be the key. 

I have built in the past and I do not understand how anyone can build a house for 250k that will last.As an agent I focus on high end relocation clients and many are positively surprised by the build quality compared to the south.

Building a strong team (agent, contractor, lender, property manager) is key—seek referrals from experienced investors.

You could agree with the Seller that you will accept up to $10,000 in the special assessment and the seller covers the remainder.

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

So, being an agent is detrimental to investing.   

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.

I did get a “special “ rate of 6.25 lol.

Don't cut special deals to help a friend or act like a big shot.

Whether you're an investor looking for opportunities abroad, an agent working with international clients, or a developer seeking foreign buyers, having the right network and knowledge is essential.