Are there any resources that help explain what type of terms we should ask for?

Rehab estimated at $35K3 unit propertyWill need some financing What made you interested in investing in this type of deal?

I’m hoping to find more success in Phoenix, but as you stated, the old fashioned way may be my best bet.

Here's how they break down:Fannie Mae HomestyleMinimum Down Payment: 3%-5% (Primary Residence) & 20% Down (Investment/Second Home)Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: Per County Loan LimitsOccupancy Types: Primary Residence, Second Homes, and Investment PropertiesUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements (e.g., new roofing, foundation repairs)-Cosmetic Enhancements (e.g., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.

You bet it is lower risk than being on the equity side.

What type of marketing would you do ?

With people continually migrating from CA, more jobs moving here (Tesla Semitruck factory being built as I type this), I don't know how this gets solved. 

We have invested in these type of deals in Milwaukee and there are pros and cons to this asset class.All the best man!

Reach out to a loan broker with your exact info and the exact or at least type of property you want to buy and they should have options and opinions. 

One metric we do use when we're able to pull the data are permits pulled & what type of permits pulled in an area.