The best place to start is with a spreadsheet that has every every cost itemized. 

This is unlikely to be profit, this is to cover your costs on the backend at move out.Secondly, find a good pet addendum and have them sign it.

You can also gain valuable experience virtually and offer low or no cost "co-hosting" services.

The forms are online, and it costs $100 per filing. 

We don't believe they are stealing, but their negligence has cost us a lot of money.* Is this enough to file suit in small claims court? 

With that, you could cover the costs for renovations, closing costs, or even set up escrow for those senior living sponsorships.

At this time I manage and renovate majority of all my units to keep cost low but most likely not the best use of my time although I'm skilled at it.

There is extra costs, more regulation, and more liability. 

Let's say it's $100 a month and the cost to install a fence is $3,000.

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.