You credit hiccups aren't as important as the performance of the building itself, but you can bet your behind that your debt service costs are going to triple. 2% is a sweetheart deal that you aren't going to find in the market right now. 

Scottsdale, Tempe and Central Phoenix are probably your best bets.

Your best bet is figuring out which state produces the most out of state buyers for SU. 

You’ll need an inspection and you should dial in your scrope of work, I bet it’s a lot more than 5k if it’s been neglected for a while. 

Your best bet would be (1) - public REITs.Why does (5) have to be riskier asset classes like high yield bonds, leveraged products or inverse ETFs?

It may not be right for you now but if you are successful I’ll bet you will have one.

If you never owned one, then your best bet is to find a deal and to bring it to someone experienced to partner up with  so that you can learn from them.

I'm working on becoming a realtor but I'm not licensed yet so that increases my cost quite a bit.I have done a flip before but that was a sure money maker where I think this one isn't such a sure bet.

stated income loan would be your best bet but you would Max out at  75% LTV and rates would be higher than a conventional loan

Coming from a farming background I think your best bet is option two.