Phoenix has been a hot market for rentals recently, but consider how long-term trends, interest rates, or construction projects might impact demand.Here’s a quick story: A friend of mine bought a new-build in a suburban development a few years back.

My principal/interest, escrow, and insurance is 1570, and my HOA is 306 and it includes water.

As a lender I can tell you that argument holds no water.  

It had 22 of the 25 lots occupied but we'll be fixing it up, filling it up, billing back water and raising rent up to market.

Rentals have remained pretty hot outside of common slower times around holidays.

A law degree does not mean you know anything re wraps.If worse comes to worse, you can stop the foreclosure with legal action - it costs some but you will not lose your equity.I would not throw the baby out with the bath water re doing wraps and I do hope all works out for you.Reach out if you need a referral to a good AZ attorney to helpBe careful out there guysAlan Not to be too blunt, but you are handing bullets to a six year old with a gun.

Winter's are cold and summers are hot in northern Cali. 

You could easily be $100k in for water/gas/power/sewer if you’re talking 4+ lots. 

- Securing the property- Removing the waterIf your furnace was stolen, you may need to get propane heaters to facilitate water removal.

The hot tub gets all the praise haha.