Personally, I would never live in PHX, but that is all personal biases (I prefer seasons and greenery), and clearly lots of people choose to live in PHX.At the end of the day, I would argue market selection almost only comes into play when you are talking assets that cater to institutional buyers that have to get investment committee sign off. 

Guest breaking down their markets and strategies gave me a lot of insight.

it's a tough market. 

What market are you in? 

Quote from @Ivan Castanon: Quote from @Jay Hinrichs: depends on market most of FLA that wont move the needle.rust belt mid west you can find deals for those amounts.. going to be rougher areas of course. do NOT follow the advice of anyone suggesting second postions or gap funding.

The property's strong market demand made it an ideal candidate for a profitable fix-and-flip project.

Sit back and wait for the market conditions to flip to where those strategies would work for me, or adapt to the current market.  

OTM = General, overhead/widescreen view of nationwide market tends.BPRE = Detailed ways specific people are making money in real estate.

Here’s how the ATI Exemption would be calculated:ATI Market Value (purchase price): $1,000,000Previous taxable value: $700,00025% reduction (ATI Exemption): $750,000New taxable value: $750,000Without the exemption, your property would likely be taxed at the full $1,000,000 value.

Use AirDNA.co for market research.Search the immediate area, in "Traveler mode" to see what the competition is doing.All that said, I concur with the general sentiment of the above comments.You are already running tight.