I suggest you first read Arizona Revised Statutes (ARS) Title 33, Chapter 6, Article 3; 33-742; 33-743; 33-744 and 33-745, then discuss your plans with a good AZ real estate attorney.I also suggest you discuss your plans with a good accountant to be sure you understand how your income and expenses will be accounted for.Arizona Revised Statutes (azleg.gov)

https://www.msn.com/en-us/travel/news/i-was-one-of-those-airbnb-hosts-who-made-guests-do-chores-before-checking-out-then-i-realized-it-was-a-ridiculous-ask-here-s-where-i-landed-on-who-cleans-what/ar-AA12NLuI?

Case in point: presently, the Mississippi floods thousands every few years in MO, IA, AR, LA. 

Look ar deal rate.Second... it is not the handwritten part that matters... why?

I would fear a home owner's association because their hands are not tied to ARS 9-500.39, and in my opinion, HOAs get away with too much.

In certain counties in Arkansas they do not have plat maps, seriously, the clerk will suggest you hire a surveyor.

I'm moving back to Fort Collins, CO when I return to the U.S. to attend Colorado State University.My goal is to acquire 5 single/multi family homes as rentals in and around Conway, AR, while I'm still in Japan.

DET Duplex then SFR w/ value add opportunity, or Condo. 4) 99% of the time seller pays commission.

I'm trying to do my research and it seems promising that this is doable on a R-5 zoned property. 

I advertise as a R/E company and not a mom & pop and advertise that we do credit & reference checks.