Hi - I have gotten fairly comfortable with the basic Investor MAO formula of 70% of ARV-repairs.However, I know there is another model of acquiring investment grade properties which is to take over the sellers mortgage.  

As @Karen Margrave mentioned, there's a ton of details related to the zoning and topography - principally whether the lot is level and graded yet or not, as well as whether there's water meter(s) and such already in place - that have big impacts on your costs and hold time.  

I will take my time for now and slowly up grade the properties after the first year when the tenant moves out since I will see what happens then.

I always use Lowes for medium - high grade cabinets.

A couple of quick questions for your Scottsdale vets:What price/sqft (roughly) can I expect for contractor-grade new construction in Scottsdale?

The success of a LOMA is the Base flood Elevation (BFE) then you have to see where the height of the lowest adjencet grade (LAG) if the LAG is higher than the BFE then you have a good chance of getting the LOMA.

If they are/become accredited investors, they buy into institutional grade $50-125M projects with as little as $100,000 and diversify. 

I like the idea of putting appliances that are commercial grade that will last 20 years and have parts that can easily be replaced. 

So this would require a chunk of change (20% at least) down plus I would still be an occupant so I couldn't rent out my room.I am looking at 2+ bedrooms 2+bathrooms in grade A areas like Canton, Fells Point, etc.

This may have been solved with commercial grade equipment.