Biggest thing is to have a game plan and discuss it with a Banker to look at the mortgage options and go over numbers for best overall return. 

Clearly, I will find a CPA but I'm trying to get ahead of the game and prepare all the things I'll need for tax filing next year. 

You have skin in the game in the form of your entire net worth.

I’d like to make the jump on my first rental property but have no idea how to get in the game.

As long as you are willing to play the long game you don't really have a reason to be overly nice or flexible with this tenant.

I'm a bit late to the game on my reply, but am here if you need another resource as you plan for your first investment property in PHX.

Having more entertainmentoptions at the house like arcade games, ping pong table, etc.

Quote from @Marie T Debnam: FlipSystem is a game-changer!

They didn't want men gambling away the house in a poker game and leaving the women and children without a place to live.The intent I think for a home to be designated your homestead is that is where you live. 

It's all a game.