It's pretty easy to get suckered into a bad out of state deal because others want to make a quick buck, and you'll be left holding the bag. 

An easy flip at 7-10% return might be more lucrative than a larger project that takes longer and more chances for cost over runs. 

They can provide access to off-market deals and connect you with a network of contractors familiar with BRRRR projects. https://www.biggerpockets.com/business/finder/agentsProperty Manager - Choose a PM with Section 8 expertise to ensure smooth tenant placement and compliance with inspections and rent guidelines. 

Perhaps you could even get your new property rented out at a rate that would pay your heloc bill, at interest-only payments that should be fairly easy.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

I can see in states like California, you would end up with a squatter tenant pretty easy, and then you're screwed? 

The lender did not use a servicing company, and the pay history is being contested (which should be easy to prove)2.

It's a huge investment for you - you definitely should have direct access to the PM.

In a soft insurance market, coverage is usually broader, lower deductibles are more accessible, underwriting is usually more flexible, and premiums are generally aggressive / lower. 

Otherwise, get a HELOC to access the equity to buy a home in AZ.