Life Insurance covers everything 

Focus on areas like Mesa, Tempe, and Central/West Phoenix for the best balance of affordability and rental demand.

If you find something that works well as a short-term rental, but doesn't work well for you as a home, you'll have money but be dissatisfied when you live there.You don't even need it to produce a profit.

I will give you my real life example.

@Rodrigo CamposLet me know how it works!

The only thing constant in life is change AND ultimately the only thing we control in life is our Response to what happens.  

The property has a decent-sized lot with a carport past its shelf life.  

If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

Lenders look at creditworthiness/balance sheet/track record and the collateral in determining the leverage they will offer.

Life lesson.