Over-budgeting is critical to ensure that renovations don’t eat into your profits.Market Fluctuations: If property values in your area do not appreciate as expected, or if you face a market downturn, the amount you can refinance for may be lower than anticipated.Financing Challenges: Securing financing for the initial purchase and rehab, as well as refinancing after the property is rehabbed, may be challenging, particularly if the property is located in an area with fluctuating values or if the rehab work doesn’t immediately improve the property’s appraised value.Tenant Risk: Rent collection and tenant management can be unpredictable.

This is where the true opportunities are.Detroit, starting with Downtown is experiencing a massive redevelopment, at this point its no longer a secret. 

I'm sorry, but that's not true.

We have around $150,000 available for investment.We understand that finding deals in this price range in Phoenix itself might be challenging, so we’d love to get your input on areas near Phoenix where our budget could work.

That would be great if you can post the study here.P.S what are your thoughts on PropertyRadar(I hear they do daily updates I dont know how true this is though) and Listsource by core logic(the site claims daily updates)? 

Which was true. 

Our portfolio currently cash flows, but cash flow isn’t our top priority right now since we plan to use this portfolio to supplement our retirement in 12 years when I leave the Army.My biggest challenge is committing to an out-of-state market.

For those who invest here, it has been tough sledding since 2023, and much more challenging since the onset of 2024.   

Maybe we can exchange insights and strategies to help each other navigate the challenges of getting started.Looking forward to staying connected!

I'm curious to connect with any other STR/ MTR owners in that area to get more info on resources that are in the area and what challenges/ successes you have had there.