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

My partner know how to do it and said he could buy the stuff on the internet for $200 and we could permit it and he'd wire it.

Definitely don't sell it and buy cheap Class C in Texas or other state for "cash flow on paper" - I learned a painful lesson with those types of properties. 

We were able to negotiate a buy down on the interest rates. 

The moment you buy an investment property, start a side hustle, or even experience a major life event (marriage, kids, inheritance, etc.), taxes get more complicated.

I have been consuming as much education/reading regarding out of state investing as I can as well as literature regarding buying larger buildings (not quite the syndication level) although I have been reading that material as well to digest.

TurnKey, Buy-and-holds, flips, or maybe long-term rentals?

This does not align with buying most buildings in cash.Once you progress in your investing efforts you may come across more UHNW individuals, family offices and institutions who would take the lower return for limiting risk (all cash deal).

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

But there are tons of areas where you can buy that are not in an HOA.