Multi family loans under $1,000,000 are certainly more difficult to obtain because they don't meet the minimums of most companies and most local banks aren't so welcoming to out of state investors. 

Not that these aren't needed but you can shop around.

And always have the ability to fire a builder and pay out for work (which is why you don't want them to front load the contract) in case they simply aren't producing.New construction seems risky. 

If they aren't, then you might ask for anywhere from 2-6 months of rent upfront.

If you have two full baths it will appeal more to this group.The downside in Phoenix to a MTR is I am not sure you would get summer occupancy if you aren't the top location.

Even if the units you tour aren't the one you eventually buy, walking around the area and getting a feel for the property types will help you be a much more informed consumer when you are ready to pull the trigger. 

Credit score can help you secure a great rate so make sure to get started on that if you aren't already.

If they don't know where they are going, no matter what else you talk about, you aren't buying that house unless you can solve the problem of where they are going.The most colossal mistake in all off-market acquisition is that people use the same dumb scripts for all sellers and they almost always talk about a cash offer.

If no one tells them about balance sheet, then real estate investors aren't going to focus on them.My clients are always looking at the balance sheets after I taught them the importance of it.There are a lot of times not just real estate investors, just regular business owners, they look at the P&L and say great, I made $100K this year, but my bank is showing $10K, where is the rest of the money.

@Brent Hindman If you aren't looking to grow the rental portfolio quickly or build it to be large, then I'd probably just get a HELOC on it and keep it as a rental.