I have been reading the online resources about getting started, searching the market, and even doing tours, but I am hesitant to jump in and buy a house as I have quite a large amount of student debt.

I have never pulled a permit for a water heater swap, know no one that has ever pulled a permit for a water heater swap, ever seen or heard about one getting red tagged for no permit, and have never had a plumber recommend getting a permit.

Is it as simple as getting the site designed and engineered for the footprint, cleared and graded (all of which I am comfortable with), and then hiring a GC to build the building?

- That could get you a Class A duplex or Class B 4-plex in the suburbs of Detroit. - You can get more units in the City of Detroit, but you will need to understand the City's demographics or you'll get taken advantage of.City of Detroit has 183+ residential Neighborhoods.

You rarely will get both (at least not right now in this current market).If you want to explore different opportunities within various areas of the Valley, get a seasoned investor-friendly Realtor who is competent. 

It's a great time to get started.   

Quote from @Laura Yelin: Hello BP'sI like Sherman...I lived there for about 3 years many years ago and still sell and rent there.It's a slow wealth building market in my opinion, not get rich quick.Mostly blue collar stable town.

As far as I understand, as I am living in it, I was able to get cheaper down payment options.

-------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Otherwise, get a HELOC to access the equity to buy a home in AZ.