After realizing the market is essentially gambling, I started looking to real estate as I love the idea of having my money in something physical and real. 

Curious to hear why you have specifically chosen Gilbert.

If you have a 12 unit that is generating positive cash flow, and your bank is telling you they prefer to gamble on a flip... that's silly.

Provo is a great place and will not likely drop much even in a downturn (I have 2 buy and hold rentals there now) Trying to cash flow any new purchases in Provo is extremely difficult unless you buy condemned property and rehab it all your self (and don't mind still paying $150/sq ft for that) There are to many wanting to pay too much and gamble on appreciation.

If it closes at a higher price, you know why your offer did not get accepted, if it closes at a lower price, however it sales for CASH, you know why they were chosen. 

So most people will end up dropping term contract.As to believe that invest the difference and that difference would be their self insurance is a gamble.

This was a fellow who was chosen by our GC to do the work.

As to your comment  Ryan about major markets always seeming to appreciate, I agree but I don't want to gamble on that. 

If you have the down payment, want to invest where you live, and have chosen SFH as your niche, that seems like it's viable option.  

I was a renter in Minneapolis for ~ 6 years, the biggest thing for me was location.I would gamble on the Blue Line Light Rail expanions, as it will allow better transport in and out of downtown to those further out.