The only person willing to lend me money was Paulie—a guy who charged a point a week and always had a baseball bat within arm’s reach.

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

Does the property already have a decently sized master bedroom and master bathroom?

Foreclosures aren't a super big source of leads though and most end up on the MLS anyways so they many people will see them.

My recommendation is for your first MTR to get something that would be a decent LTR, this way you have a fallback strategy.

I have done it successfully on my last 2 buildouts, maybe 3, but only because I was able to acquire the properties at a very low price and I did all the work in-house (myself and some hired hands on staff).

It's hard to find a cash flowing rental in this area, but paying all cash certainly helps!

Look at what other complexes are charging and you should get a good feel of where to start off

People have already moving to the Surprise/303 area in recent years.

Currently have a small rental sfh on a lot that can clearly build at least a 4 unit on it.