Be prepared for a high rate/high fees 

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

Most agency loans will expressly forbid such an arrangement, so if they found out, the odds of having the loan called would be very high. 

Highly recommend (I require) collecting first month's rent prior to handing over keys.

Having the contractor relationship in place to move quickly and provide a high quality renovation at a reasonable price.

I've decided that finding "deals" in Arizona is unnecessary as there are other markets that one need not search high and low to find something that can produce a decent cash-on-cash return.

They make their money off of real estate agents, but real estate agents are the worst people to make money off because they are highly unreliable and in and out of the business when the market changes.Their target should be the consumer with higher levels that they can subscribe too for data, since Zillow is linked to the MLS now which makes their data somewhere more reliable.

The monthly cost is high, but we currently are cashflow positive about $1,200 a month.

When you approach a deal as a relationship rather than just a transaction, the opportunities multiply.For instance, I was once approached by a seller who was the father of a girl I’d gone to high school with.

It is a freehold property, recently renovated from top to toe with high quality, large garden, and kept very clean at all times.