So the best solution is to buy a house needing extensive renovation for cheap and use that discount to change the layout when you bring it up to living standards. 

We have found it for number years so the value of the property has went up plus I did an extensive rehab.I owe about 215 not counting the last rehab that was about 60 K out of pocket.

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.

Through a comedy of errors I had to file an extension on my 2023 taxes and was finally able to hire a great bookkeeper in June of 2024.

I have extensive experience on the headache it causes once you rent it out.

@David RobertSevere nicotine damage can require extensive cleaning, sealing, and even replacing drywall or HVAC ductwork.

Slow funding will kill you.)Note Duration and Extensions: What will be the length of your note?

They’re ideal for those building portfolios, as they don’t require extensive personal financial documentation.A key tip is to ensure the property’s cash flow comfortably exceeds the lender’s DSCR requirement (typically 1.25x or higher).

Personally, I wouldn't offer SubTo or a Wrap, For reasons I've written about fairly extensively. https://www.biggerpockets.com/forums/70/topics/1227199-the-m...However, I would sell on "Lease Option" and that may work for you.

Extensively commented on, no need for me to add to it.Warehouses is somewhere towards the bottom.