If you sold this property would you buy something in Arizona or would you continue to look for properties out of state? 

What are indicators or measuring tools?

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

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But the person seemed bent on me wire transferring within 3 days, or the deal will no longer be valid.

Everything looks good for year or two.

Quote from @Havital Miltz: Wow a bit of a sticky situation, did you have a conversation with the seller, directly or thru your realtor prior to the closing to find out if the tenant knows they are supposed to move out?

You might want to partner up with a friend or family member to mitigate the costs.

Move on.If they say, "maybe" or have lots of questions about the details, then move forward and pursue.#3  TRUST.   

You'll qualify for the lowest mortgage rate and can put 5% or less down.