I am asking what you hope to achieve with this complicated setup?

This is still pretty complicated. 

This is one step in a long journey, and I'm glad to have found a community that is as passionate as you all are!

It’s not necessarily more difficult than market-rate rentals, just different.If you’re seriously considering this route, feel free to reach out.

The question being, does this still hold true for Arizona?

Without knowing stuff like this, all the answers provided are meaningless. 

This will make it a lot easier to manage, will cost you less than buying on the market and typically you can get 1:1 rent returns.

That would make this much more complicated, since you'd likely need lender approval.In any event, you'll want to check your mortgage (if you have one) and the lease to see if you can transfer or assign.

Unless this is strictly a student housing for IU play you would want to be extremely hands on to make this work in my opinion.

This is not going to be changed.