I do not lend in AZ, so I am no direct help, but I can price out better then both of those options with NO pre-payment penalty at all. 

But should I get copies of the keys or replace all the locks?

You’ll want to understand key metrics like cash-on-cash return and cap rates to evaluate deals properly.For flips, it’s all about finding properties where you can add value through renovations and sell for a profit.

Being a natural cynic, it takes work to find the positive.  

Hey All, I wanted to get some advice on how to use other people's money to purchase a long-term rental property. 

Thanks all @Colleen F.

Great Points Chris - Investing in general is all about managing risk. 

Then you'll have a few tools for capital at your disposal, including: personal funds, hard money, private money, and lines of credit... all there for you to grow/scale!

Like I said big timers like Sean Terry and Bob Diamond do it all the time and teach others how to do it as well.

Hi All.