Toss in a BRRRR strategy with a few other strategies and the potential to live mortgage free and cash flow when you move out of property is real. 

The TLDR version of that web page and other related web pages is that, in Arizona, if you start a foreclosure action against a homeowner who has equity of more than $2,500 in his house using a tax lien certificate, the "defendant" can ask for excess proceeds during the foreclosure action.

I encountered issues opening a bank account for a Subsidiary LLC as well.

Also if he does have a home, can't get get a HELOC to borrow money to cover the rent?

If you find a seller willing to carry a large note, that business is likely going to need a significant time and money investment from you post-close.Lesson 3️⃣ - It’s not that hard to be a good buyer.

There should be something about needing a payoff letter.

Looking to purchase a home property from a family friend to be turned into a long term rental property. 

Cash flow will be a function of how much you put down. 

Through the early years I'd post a few times then go dark for months at a time, even into my early days of being an agent, always been hot and cold, in my postings. 

@Adeel Makda there are a lot of great options in the Chicago area.