Quote from @Kelly Giarrocco: I bought a vacant property on Sherriff sale last year on the ********** site.1.

What now is the second one.

Welcome to the community, Rajendran!

Then I put about $45,000 in fixing it up and I expect the appraisal to come back within the next couple of days at $240,000 or higher. 

IE they just work in the NPN space and try to work the notes and ending up owning probably happens maybe not the majority of the time but quite often..

Personally, I would never live in PHX, but that is all personal biases (I prefer seasons and greenery), and clearly lots of people choose to live in PHX.At the end of the day, I would argue market selection almost only comes into play when you are talking assets that cater to institutional buyers that have to get investment committee sign off. 

An example is that I had a building inspector come by recently, following the fire inspector, in the same municipality.  

Let's re-visit this post next year and see.

The FCC rules are here: https://www.fcc.gov/sites/defa... 

Every where you turn there are STRs going up on the market fully furnished because they couldn't pay the mortgage and bills with the rental income.