If this is a construction loan request, that will impact terms as well.  

This is going to be "City Specifc" in my opinion.

I don't agree with your assessment on Tertiary markets as it relates to appreciation and cash flow.while some can be OK.. many of those markets are stagnate and those renting are certainly living month to month.. harder to find labor etc.

Also, you can get a HELOC on your primary residence and use the proceeds to purchase investment properties as well.

I agree that I am bullish on this taking the PHX market to the next level.

I am not opposed to making this my primary method of income either.

Here are a few avenues folks often explore in times like this:You are already on this path - Owner Financing: It's great that the seller is willing to finance a portion of the deal.

I've been working on him to get his mortgage license as a I plan on adding IL very soon.

If you click on the magnifying glass in the upper corner you can see the previous responses.

However, I am more inclined to believe someone in here as opposed to other sources. which obviously needed to be fact checked.