They typically want earnest money as well as pre approval or proof of funds.I've heard of people leaving money on deposit with the agent.

I'm sure this is a typical case study for a total beginner, I don't really know what I'm doing. 

Typically, you can expect to make a down payment of between 15% and 25% of the purchase price.

I'll also keep up with door-knocking, which I typically do on weekends.

maybe some light repairs after the tenant moves in...so your first few years after a purchase are typically stabilization, and you investing your money into the property.

It's a good idea to consult with a real estate attorney or a financial advisor who is familiar with Arizona laws to understand the full implications.If you're considering a joint account with your brother, lenders will typically look at both parties' credit and financial situations.

JADU typically subtract value so if you plan to sell in the future it is a poor option.  

Minimum qualifications that I typically look for with tenants are a 600-620 credit score, need to be making at least 2.5-3x the monthly rent in combined income (verify their employment by making a call/googling), and I don't like to see any previous evictions/certain felonies for background check.

Turnkey properties are great for someone like me who lives in a state where cashflow is very hard to find and who has a busy career that doesn't allow much time for typical landlording duties;2.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.