My advice would be to find a great asset and match that with a strategy that is a bit more work to break even or eek out a little cash flow.

You are priced out of Scottsdale quite a bit, but you might find something adjacent which would provide some good opportunities. 

Hi Kwanza,Bay Tek (650-204-1512) would be a great starting point, but I’d also recommend reaching out to Adler Builders (650-398-9030) and Mission Home Remodeling (415-855-7269) for comparable bids.In San Francisco, you’ll need a licensed General Contractor (GC) to pull the necessary permits.

Now of course there are still deals to be had out there, I am not saying that, but its a lot harder to find those deals today than five years ago when everything was a deal due to low interest rates.We are always buying but this is my business, so we have a team etc. to manage it.

If not I would suggest finding a servicer to collect and manage that note. 

I don't want to bite off more than we can chew with managing a full reno while we learn the ropes. 

Let's use an example of replacing a leaking kitchen faucet (assuming it can't be repaired):You can easily find out how much the materials are by going to the Home Depot website and picking one out.For labor we Googled, "How long does it take to replace a kitchen faucet" and this is the answer we got:AI Overview: Replacing a kitchen faucet can take 30 minutes to several hours, depending on the faucet's complexity and whether you're doing it yourself.

Now, you need to figure out how to find deals and pay for them.

We go through Tilton, Thomas and Morgan, which is based here in Missouri. 

This platform is a great resource, especially when you’re first starting out.