Getting into multi family in PHX is a bit of a high barrier to entry and the number of options you'd have are super low. 

Does the fact that these were purchased separately and are at different locations make that option unavailable?

Median home values are $170K range, Median rental income $1,275, YoY home value growth 7%, YoY rent growth 7.93%, Rent/price ratio .74%, Population 117K.I also have my eyes on Watertown, NY; Warren Robins, GA; Gulfport, MS; Knoxville, TN, Rocky Mount, NC & parts of OK.There are plenty of options out there --- hope you find something that fits your buy box!

Right now I am on the middle of a flip no more cash in hand to make an offer so my only option seems to be investors or a HELOC against my flip or my own house.

You'll see a bunch of options on Zillow, but as we all know, you won't find the whole story there.

A master lease is essentially called a Lease Option here in Canada.Yes, schedule B will over-ride anything previously written.

Currently I have about $1M sunk into a previous business venture, so I expected I would have to pull some equity out but wanted to explore all options first. 

Baselane is a popular option with some good features, but definitely newer.

If something like garage door broke (or something very expensive), you have an option to split the payment.

So I ran various scenarios with different finance options.