I would say locally we are in the "too good to be true" phase.

However we aren't in that phase yet so just have an exit strategy  ready for when we confirm a new trend.

I'm still in my analysis phase, but my concern also is that the return is too low.  

Budget between $30-50K for each of these phases, and it will take minimum 12-18 months.

But sometimes use the phase "be nice, nice is good" because in times of stress our worst side comes out!

I also have an accountant, a lawyer, and at the request of the accountant have added a bookkeeper this year and she suggested a financial adviser that I am in the beginning phases with.

A title report will help you in the due diligence phase to identify any issues from the past or potential future issues i.e. the heir of the previous owner claiming rightful ownership to the property during or after your purchase.7.

We're in a very interesting phase in Sedona right now, and the rest of the country doesn't quite understand. 

But in a tenant or lease situation, there are often multiple LOI's competing, and we've even come in and snatched properties away from other users who are into the lease negotiation phase because we can offer either speed or better terms to "take 1st position".I say all that for the idea that in my experience the whole LOI-lease phase is never done until its signed, and so I could never see a LL or broker agreeing to pull the space off marketing at the signed LOI phase.  

This initial phase will help you get a quick and dirty of what areas are "bad" and "good."