Mortgage balances go down and eventually get paid off. 

$1,200,000 purchase price and the balance for closing costs, repairs and reserves.There are ways to obtain financing in Mexico, but most sellers are expecting cash deals.

It's an interesting time to invest in the Phoenix area as we are starting to see interest rates coming down & in some pockets of the Valley, we are even seeing a balanced or in some cases a buyer's market. 

When a tenant is far past due on a balance (rent, late fees) do you first take it up with collections, or small claims court? 

Prices did seem better than DFW, but about 5 years ago when it was on my radar, I never found an area where I thought there was good balance. 

The candid advice about balancing quality, building the right team, and adapting to challenges really hit home.

Plan out what you think your loan balance will be at the end of the loan period and calculate a new interest rate versus the old to see what DSCR ratio will be.

Specifically I now track month end account balances, maintenance expenses and have a detailed list at my fingertips of the tenants that are late on their rents.

Assuming the bank has the loan on their balance sheet (not resold), would they want to call it due if the interest rates only went up by 1.5% since the time of closing? 

Days on market is about 2 months, slightly better than earlier this year but relatively speaking, it's still a more balanced market compared to rest of the Bay Area.