My understanding is Heloc since its a line of credit can be drawn anytime so say you buy the property with and the ac goes on a heloc you could use that to pay for it where the home equity has a period/ gives all the cash upfront.

With that said, I've done some research on the market and found the following information helpful in my considerations for Phoenix that you might find helpful as well:  Demand for both buying and renting property remains high due to the city's strong economy and growing population. 

@John Lasheri agree with you, you'd be surprised at how many people listen to Grant Cardone though, and decide that they're going to go buy a 100 unit with 'OPM' as their first deal and quit their job.i think buying something of that size with a few partners is a perfectly good goal. 

Would you buy it?

One thing you might do is sell your more expensive properties and buy less expensive ones. 

Investment Info:Single-family residence buy & hold investment.

We are entering the prime buying season - find other local investors and get their interest.With that said, there are a couple things that are unclear from your post. - The as is appraisal was for 275K,yet you are now expecting that it would be a reach to sell for 220K.

He can't 'buy her out' as he does not have that much cash liquid.

Investment Info:Single-family residence buy & hold investment.

What type of properties are you looking to buy?