Now use the 70% rule: If the asking price and/or balance owed plus the renovation costs is 70% or less than the ARV, add this deal to your favorites list.* Narrow your favorites with further due diligence: Get comps from a realtor, interview the seller to find motivations and needs, go see the property, get repair estimates from homeadvisor.com, look up liens/deeds, title issues, code violations, zoning issues, etc. at the county.* Continue to narrow your favorites by the info you find.

It's my favorite thing in the world, and the worst thing I ever do all in one.

I would say that as well because I know a lot of folks from Phoenix and most of them all have their favorite spot to escape the heat and most of the ones that go to the the mountains stay in closer to places like Strawberry, Pine or Payson. 

What are your favorite book(s) that you can credit to your real estate investing career?

Always enjoy your insight, and Storage is one of my favorite topics!

Look for solid growth economies, property values that haven't doubled (or worse) in last 2 years, demographics, population increase/decrease and check the job boards to see how many openings local companies are advertising (one of my favorites). 

@Rory SamuelsHere are my favorite books:Multifamily Millions by Dave LindahlThe ABCs of Real Estate Investing by Ken McElroyThe Complete Guide to Buying and Selling Apartment Buildings by Steve BergesCommercial Real Estate Investing by Dolf De RoosTrump: The Best Real Estate Advice I Ever Received by Donald TrumpTax Free Wealth by Tom WheelwrightCommercial Real Estate 101: How Small Investors Can Get Started and Make It Big by David LindahlRaising Private Capital: Building Your Real Estate Empire Using Other People’s Money by Matt FairclothThe Definitive Guide to Apartment Marketing by Josh GrilloInvesting in Apartment Building by Matthew MartinezCrushing It in Apartments and Commercial Real Estate by Brian H MurrayThe 7 Secrets to Successful Apartment Leasing by Eric Cumley2 Years to a Million in Real Estate by Matthew MartinezBurn Zones: Playing Life’s Bad Hands by Jorge NewberyCommercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request by Michael ReinhardIt’s a Whole New Business!

Hi @Kinjal Patel, I just PM-ed you my favorite Georgia insurance broker!

Some of my favorite rooms:- The Kitchen!

So I would say be ready to have several electricians on standby just in case heating goes out rather than just a "favorite contractor".