While they often require some level of repair or renovation, the potential for significant returns makes them an attractive option for many investors.Why Invest in Distressed Properties in Phoenix?

Purchase price: $65,000 Hybrid Fix & Flip, bought, made minor repairs and clean out.

We purchased it for 135k and we put into it about 15k in repairs, of which most of the work we did ourselves.

Are you looking at the maintenance/repair costs of the homes once in place, W/S/G costs. septic expense if applicable? 

Handle a few properties for other owners, minor repairs, find new tenants, and rake in 10% .

The building tradesmen are busy too, but I just called ABC and got the name of a guy who buys alot of bitumen roofing so as to get a quote on a leaky patio cover, got a guy to bid cement board skirting on a stick house by calling Palm Harbor mfgr home sales center, got a card from a guy working across the street doing drywall repair and put it in my phone.

Quote from @Stetson Oates: As a suggestion, when you refer to net cashflow, I would include maintenance, vacancy, and repairs. 

The entire teachings had gone from Nickersons conservative but a cash flowing small residential property, hopefully for 10 -15% below market, do immediate repairs, then slowly over time improve the property and raise rents, either refi cash out or trade tax free for a larger property.

$3500 in repairs with little downtime in getting it fully occupied.

They obviously cannot control some costs, but they do have input on things like maintenance and repairs and some other things.