Most who get tripped up are those buying the smaller multi-families that don't possess the correct use permit/historical rental license activity. 

If the investor is actively involved and can stay on top of materials, roll with it!

The guests stayed for a month and did not monitor this activity. 

Spoiler alert- Phx is quite a saturated STR area, and many STR's (although some are doing great) are having major occupancy issues. 

I’m actively analyzing the demographics and rental trends in the area to ensure these upgrades aren’t just attractive but also functional and desirable.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

I get FinTech is a high-risk activity, but imagine the industry will consolidate to one or a few strong players.

My point is this, I am actively involved/advising this investor, providing local vendors contacts (handyperson, surveyor, painters, etc) and I "don't wait for them to call me", I call them weekly. 

I would suggest picking someone with the most forum posts or the most/best reviews that way you know they are actually active!

Maybe the exception is pro-sports, but even Frisco has minor league baseball, hockey, and major league soccer.