As someone that's traveled (13 year Army veteran), I saw the value and still think prices here are extremely reasonable for all the natural beauty and access to amenities.Interest rates have priced a lot of first time home buyers out of the markets.

Even though they do a lot of the heavy lifting on sourcing and analyzing deals, I would never pull the trigger if I hadn't run the numbers myself.

if in 4 years this is the first buyer to bail thats extremely good.. people get buyers remorse all the time does not mean they lied  they just get worried and change their mind.Most important word in Real Estate sales is   NEXT  

My main concern is the condition of a house through two extreme winters.  

However, currently here in CA, PG&E is getting extremely expensive, that is why do not include electric/gas in their rent.  

Only, their rent is extremely low because they used to do construction work for the previous owner in exchange for a lower rent.

Capital calls can happen to extremely experienced investors (including multiple gurus that I follow) when unforeseen circumstances occur. 

You are heading in the right direction to get the financing options laid out and then find the deal so you can pull the trigger for the right one.As far as HML options be sure you get all the details before signing anything . . interest rate, payment terms, what if you need to extend, points up front, etc

yes for DST they have to report and the report is extremely detailed.

I'm interested in Henderson for its proximity and AZ because I have family there, but am hesitant because I've heard that cashflowing properties are non-existent/extremely hard to find.