Pools are popular as it tends to get a little warm in the summer in Phoenix.

Good afternoon everyone,My dilemma: Contemplating Purchasing first 2-family home. 3br lower 2br upper Pros: - Location, in the heart of town- Tenant paying $1500 for 3br and wants to stay (been there four years)- Water heaters, Furnaces newer with separate meters for each unit- Natural Gas - 2 Car garage - Corner Lot- .24 acres- Based in rentometer.com 3br rent for $1700 on average and 2br $1550 on average for its location- 3BR has one and half baths- Laundry hookups both units - FHA Loan, less down payment- Owner occupied (id live on the top floor while renovating)- Foundation is solidCons:- 2BR needs a complete renovation to the studs- 3BR needs renovation but nothing right away (tenant is happy as of now)- Leak from fireplace/roof which is ongoing- Taxes are $4500- Price listed at 360k- Comps have sold around 330k, but don't have the garage or location- No cash flow until I were to be done renovating and buy another- Some plumbing neededI got a CAP Rate at around 8.5% with it being sold at 360.

Mona McKenzie thank you for the warm welcome Mona!

Hey BP community!!!!  I'm from Southern California and I just bought a duplex in Racine, WI without seeing it in person. I chose Racine because:1.) Its much more affordable than So Cal  2.) I have an Army buddy that l...

I know everyone starts somewhere, and to give forward comes from the heart.

I just wanted to share our experience on a 46 unit Renovation and the topics discussed are in no order whatsoever.We were able to acquire a duplex community in an awesome location.This community consists of 23 buildings with 46 tiny little units in a duplex set up.These buildings were initially built as army barracks that were never put into service and a local dentist bought them from the military and had them trucked down to a great little site that has some marsh views and is in the heart of a really neat city.

My time with my family is my reason for living, and it pulls at my heart having to leave the girls at home.

If you're flipping, I wouldn't encourage you to try to open up a new market or go to a luke warm market.  

I can't speak for most areas in the country but the Scottsdale/Phoenix area is warm to say the least, and has extremely low property taxes (some of the lowest in the country).

Spring and early summer (as @Rob Lehmann) pointed out are great times to get a premium and the warm weather is much better conditions to move in if necessary.