First off, let me start by saying I logically understand a winers attitude is not based in victim mentality.  

However my understanding is that exceptions can be made if unexpected life events happen such as job relocation, eminent domain, marriage, divorce, changes to family size, deployment, imprisonment, bankruptcy etc. 

In construction your plans are your Bible, so you need to know how to locate any discrepencies, locate answers to questions froms trades, understanding "Take-offs" with your materials, and be able to visualize in a 3D space what the plans are describing.

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.

Hey Steven - An LLC is a solid choice for structuring your partnership since it offers liability protection and keeps things clean when splitting ownership and profits.

Consult a CPA or real estate attorney to understand tax implications, build a reserve fund for unexpected costs, and research local regulations to ensure a smooth and profitable transition into rental property ownership.Good luck!

Understand that they all have an incentive to sell you a property.

Once you have a good understanding of what you can afford, reach out to your landlord in a friendly and casual way.

This contract (as far as I understand, albeit I'm not an attorney) transfers the legal responsibility to the buyer, and then my answer on tax consequences stands: interest deduction belongs to the buyer.B.

I can kind of understand that he wants to make sure I'm legit but that's a bit of a red flag for me.