You've received a lot of great pointers here from the other posters in this thread.

The TLDR version of that web page and other related web pages is that, in Arizona, if you start a foreclosure action against a homeowner who has equity of more than $2,500 in his house using a tax lien certificate, the "defendant" can ask for excess proceeds during the foreclosure action.

If one of us qualify for the loan amount and choose to have mortgage under one person, Question:1 How does the other claim ownership on the property?

I’m a new real estate investor based in Missouri, looking to connect with others in the community and learn as much as I can.

I intend to turn units to MTR's in small batches of 2's every other month, which means I actually need some vacancies. 

I think the other made some good points here. 

In terms of renting it out - we saw the unit was offline on Zillow and other listing websites depsite the fact it was supposed to be on, and we were the ones who notified them of it.

Investment Info:Single-family residence other investment.

Other people think it is better to develop office condos and sell them off. 

While some strategies may work here, those strategies might not suit you.I don't personally do MTR, STR, co-living, or other nuanced strategies.