I will explore the JV approach.

The absence of a personal guarantee from any disqualified persons is still required, just as with third-party financing.

I used $80k to pay off personal debts and $50k to remodel it by myself with my two hands.

I would recommend anyone lending in this environment to fix and flippers or any type of investment to be careful and get a personal guaranty and make sure person has a long track record.

$6k tax.Ins,hoa, not to mention utilities . took out a HELOC off of our personal home ( res.worth $900k, and a 260sq ft studio, mtr. $1450 mo.) for$ 220,000 for the deposit.

Cosmo - I personally don't know Phoenix well, but if I had to do this in another city I would look at income levels, crime levels, and population growth (if you can) by zip code and/or area within a DMA as a starting point.

@Matt Solis would be the perfect person to speak to about this!

I think it's just for text, not to talk with a live person.

I would restate that the lease will remain in place until such time that a new tenant is selected and moves into the property.This approach will ensure your cash flow while acknowledging that 'stuff happens.' 

Was that person me or another person as that sounds like something I have been telling people?