I currently broker LIHTC multi-family for a large firm coast to coast and am also interested in MF in the Arizona submarkets as well, and will eventually invest on that scale - I just figure breaking into the state through SFH flips may be a more risk adverse way to understand the pros and cons to phoenix submarkets.

For those of you who follow the news, banks did what the regulators (who could instantly destroy them at any time, why do you think Operation Chokepoint worked?

For cash flow, I'd recommend checking out the Triad (Greensboro, Winston-Salem, High Point) or Fayetteville in NC and Sumter and Florence in SC. 

If the property was already listed on the MLS, I'd push back on the price relative to the comps.

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I plan to kindly follow up with collecting.Trust but verify - I looked it up & there was a news story about itAnyone know of any resources out the there to help him in the short term with rent? 

I tried the "fix it" option on the Stessa site, and it constantly gave me the error that there was a problem with my bank?

Theoretically, I should be able to collect the funds from the deal, should my family member decide to go through with the deal.

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

You're in the right place to learn about real estate investing.