Here is the BEST way to develop an understanding of the risks and rewards of redeveloping your propertyBEST - Hire a CRE - Counselor of Real Estate to do a complete market analysis.  

If you use cash flow - it's more safe imo and debt leverage is risk but reward if you execute on a value add project.

If you have a business you can grow and get financially rewarded that is higher priority then leaving that.

It can be a fun and rewarding job at times but it's also a harder one than most people realize.

P.S. sometimes it's more stressful than fun, but the rewards can be enormous and are worth it.

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

As always, make sure to run the numbers carefully and factor in local property taxes and HOA fees, which can vary widely in North Texas.Delayed gratification is key in real estate investing, but with patience, the rewards can be life-changing.Best of luck with your search

Owen,  Pursuing a career as a realtor can be incredibly rewarding, but it's not as simple as it may seem, especially in the early stages.

Converting blight to cash flow has two rewards, the first is that you don't have to hunt for opportunity that shouldn't exist (i.e, investors selling positive cash flow which require little to no CapEx). 

I truely believe that you shouldn't keeping waiting for the "right time to invest" the sooner you invest the sooner youll be able to reap the long term rewards.