The Phoenix market is a great area to start in, there is a lot of growth potential.

This is 100% top advice to think about - each state (and sometimes, often municipality/city) will have different processes, rules and yields for this - it is a very location-specific strategy and have to hyper-focus on a local market (more even for the rules/process than the real estate knowledge) to have success

@Ray Dixon, to learn more about short-term rentals in and around the Atlanta market, I would highly advise joining the Facebook group, Atlanta Metro Short Term Rental Alliance.

Sometimes you can talk directly to the owners.Use the Internet - Websites can show you houses that are being sold because the owners couldn't pay their bills or are in other kinds of trouble.Check Public Records - Look at official papers to see if a property owner is behind on taxes or other bills, which could mean they need to sell fast.Study the Market - Learn about how much houses in that area usually sell for and how much you could sell it for after you fix it up.Be Careful - Make sure you investigate the property fully to see if there are any legal problems or money owed on it.By using these steps together, you can find properties that might be a good investment because they need work or are being sold at a lower price than usual.Kind regards,

To make an informed real estate investment selection, think about initial investment, management ease, marketability, and selling value.

How does new western find their off market properties?

It is easy to finance, easy to rent, and appreciates with the market.  

They typically have below market interest rates and can be used for house hacking a 2-4 unit. 

The market has shifted a bit and going forward you will need to be buying "off market" to make any money.

Purchase price: $485,000 Cash invested: $100,000 Originally on the market for $700,000.