You can work with a local credit union that does HELOCs, Home Equity Lines of Credit or Loans, on investment property.

What is the claim - that someone is going to sue them, or kidnap their child, or what? 

I think it was a 2x or 3x multiplier.

Is it mainly a sales pitch or is there good knowledge that you cannot find elsewhere?

Either idea is good - wholesaling your leads or keeping them, or a combo. 

If you want to buy your first property ASAP, house hacking (duplex, triplex, or renting extra rooms) is one of the best ways to start with a low down payment while learning property management.

When you finance through national lenders, in your experience, is a balloon a common requirement for commercial loans of this nature or is it possible to get a fixed rate for 30 years?  

Cosmo - I personally don't know Phoenix well, but if I had to do this in another city I would look at income levels, crime levels, and population growth (if you can) by zip code and/or area within a DMA as a starting point.

Or even just use the FB group where people bring deals for a finders fee, you evaluate and then pay a % to a TC to help close the deal.

This is after covering all expenses and setting aside a certain amount for reserves to cover future expenses like capex or vacancy.