Specifically looking in Arizona. 

I am talking with many realtors, insurance people and lenders right now to find the best deals and to compare quotes and for the numbers to be more specific and keep making sense.

It takes a effort to do a real analysis.There is good and bad in every industry including coaches and including. 

More specifically, rules that you have added to your leese that you first overlooked.

I'm a fan of MemphisInvest, more specifically Chris Clothier as I've met with him and really value him, but I've never dug Memphis as a market so never bought through them. 

Bigger Pockets has a list of recommended lenders specifically for STRs.

I have rehabbed three residences and flipped them as house hacks, but never purchased a building like this one that as purely an investment, so would love help on strategy and specifics. 

The short answer is yes but it does depend on specifics.  

I don't know specific law in Washington but generally everywhere deposits can only be held for actual losses.

Understanding cash cycles from different marketing channels will give you a better understanding of which path will be best for you to pursue.Outbound channels are getting more and more regulated as days pass, so I recommend diversifying with different marketing channels so that when one gets shut down, your business doesn't suffer significantly.