Detailed recordkeeping is crucial to avoid pitfalls.

Which neighborhood or zip code to look at or avoid?  

If you are only looking to create a trust to avoid probate, you could probably hire an attorney to make a revocable trust.

Lenders that can do either, will generally start with soft pull to avoid having you end up in "trigger lead pool".You really didn't even need to get pre-qualified with anyone to a get rate and fee quote.

Quote from @Anthony Therrien-Bernard: Quote from @Kyle Mccaw: @Rafael Valdor You’re absolutely right to prioritize tenant screening—it's one of the most critical aspects of protecting your investment.

It's easier for an investor to stay committed to the plan and avoid change orders than it is a regular homeowner.

And while it is not your job to be an expert loan officer, it certainly helps to avoid these situations. 

Emphasize how this arrangement could work to their benefit, offering steady income, avoiding a traditional sale process, and giving them the freedom to move forward with their plans such as buying that sailboat and sailing around the world.If they ultimately decide they’re not interested in selling, you’re still in a great position to continue your search and buy your own property in the near future.

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.

.✅ Knowledge of Chicago Rental Laws – A good property manager stays up to date on local laws, helping you avoid costly legal mistakes.✅ Maintenance & Repairs Handled – No more emergency calls at 2 AM about a broken water heater!