I think the best suggestion in this thread is actually from @Josh Young where @Shiloh Lundahl should seek debt partners.

Quote from @Hanna Brown: @Jay Hinrichs If the bidder at the auction pays cash for keys to get the homeowner out, does the person redeeming from the owner position (exercising rights of redemption w/in 180 days) have to reimburse them for those costs they paid to get the homeowner out? 

It's like asking whether you can lose weight if you don't exercise.

Open to hear alternate suggestions. 

There's a lot of other things to consider here but I'll go through your list and make some suggestions based on 10 years of investing across various asset classes - single family, multifamily, industrial, storage, retail, office, etc. and I've had experience with section 8 housing, BRRRR, flips, etc.Purchasing rental properties?

Im North of Phoenix South of Flagstaff. Do I need to choose a location close to home or farther away? Do I wait to get more cash? Go with auctions? I have preaproval for a 250K loan now. Houses are mostly at least 450...

I really am enjoying this thought exercise. 

This is usually rare, and the cost of these major repairs can be negotiated to be reimbursed at the sales closing when the option gets exercised.- The exit is defined according to the option period. - There are very low management costs since the property has long term tenants that take care of their own repairs.

Looking for suggestions on any specific building materials, fixtures, accessories, furniture, and tech for a STR.  

A wrap does NOT remove the risk of a due on sale clause being exercised by the 1st position lender.