It probably be best as a friends-and-family type loan, but I don’t have anyone around me that is an appropriate lender.If I have to, I can put the funds in myself, but its inconvenient, and would come from investments that would need to be sold, taxed, etc.

I understand Vermont has slightly more stringent regulations to contend with but it would also be closer for us geographically and thus potentially easier to manage. 

I did not see that contractor here:http://www.phila.gov/li/Pages/FindLicensedProfessi...And I did not see that contractor here either:https://hicsearch.attorneygeneral.gov/Always a good thing to see that the contractor has registered with the appropriate government department(s),

They're also appropriately priced.

Very good point.In the case of Arizona, I have been unable to locate any state law / code that suggests Arizona may have additional regulations. 

Yeah, it is based on the state's regulators.

As-Is, doesn't mean "as-is" if you negotiate and write your contract appropriately.

I have an LLC for each state I do business in and each property is held inside the LLC for the appropriate state.

@Eric Andersen definitely put weight into what @Michael Baum wrote and do your own research on the city regulation/zoning.

Never invest in any city on this list of the 50 most dangerous US cities.Low operating costs: High operating costs are one of the driving factors for many companies, leaving states with high taxes, regulations, and other costs.