The inspection showed more issues than we expected but the seller wasn't willing to negotiate so we cancelled in the due diligence period.

Usually if you have several accounts and investments with 1 bank they will provide you with low to no lender fees and the better rate.The main issue here is that there is a lot of time/effort spent looking at your financials and documents to make sure there are no discrepancies, qualifying you, and sending Pre-Approval Letters, for you to just go with another lender that is offering you the better rate/fees.

The timing does suck because this issue came out of nowhere at the end of their lease.

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.

I have pulled a permit for removing a fireplace, but probably would not have but I had a significant remodel going with permits and did not want hassle of him making an issue of removing the fireplace (the inspection for fireplace removal consisted of only verifying gas cap was in visible location, he did not even spray it).

If the seller handles the repairs, it’s usually not an issue, but you want to verfiy what your lender requires.Cleveland Heights checks a lot of your boxes (hospitals, strong tenant pool, walkability, and appreciation potential).

If you are interested and willing to house hack it is a good way to gain experience dealing with some of the issues you would face as a landlord, but definitely subdued since you are also living there. 

•For example, a listing with three price drops and 180 days on the market would be weighted less than one with 30 contacts, no price drops, and a quick removal after 30 days.3.Open Data:•Provide direct access to each comp’s details: price history, leasing schedules, photos, and even links to the original listing sites—all without leaving the platform.These three issues have been my biggest frustrations with current tools, and I’m building this out for internal use in my market.My questions to you:•Is this something you would want to see in your market?

I do own two triplexes in Scranton, and I will say the one issue is that you are going to be taking care of the utilities normally if they are not on separate meters, which could take a good amount of money away from your overall cash flow. 

I've sent so many follow-ups, and the issues remain.