Your equity is $61,400 (you also paid something to renovate but I'm not sure we need to care too much about that for this example).

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.

If you're insuring a home to replacement cost, insurance companies don't care about appraisals or what the home is worth.  

I'd argue that there are very select zip codes where this strategy works.

Here is NJ: https://www.njoag.gov/about/divisions-and-offices/office-of-...And then you could contact SEC Enforcement: https://www.sec.gov/submit-tip-or-complaintI have found that a carefully written letter to the Syndicator, alerting him that you are suspicious, will get you a quick refund . . . under certain conditions.

Let me preface my story with my definition of freedom: doing what you enjoy for a living with the people you care about.My name is Peter Neill.

Who cares where the rent is coming from?

Who cares?

., mortgage interest and property taxes) requires careful allocation.

I have not had good communication with the property management team either so in the next month or so I am switching over to another company I have already spoke with who also recommended seeing how long I can go with complimentary property management.I'm actually just a little concerned with whether the tenant is being taken care of or not.