Hi Saul,Vegas and Phoenix are on the pricier side, so you'll need to put a large down-payment down if you want to cover all your expenses with some cash leftover. 

If tenant below is paying 1,500/m he's living in area he wants for roughly 750/m P/I payment.

The payments and interest are high.

NONE of the money raised from the auction of a 2nd goes toward the payment of the 1st (that is why they call it "subject to the first")4.

Several have mentioned utilizing low down payment second home loans for qualifying.

Hard to fault her very methodical informed decision.

Start by serving proper notice of the management change and request payment details.

In my experience that's not actually the case at least in legitimate evictions for non-payment of rent or breach of another part of the lease.  

Are all prom note payments current as of today?

To qualify for a loan, focus on having a credit score of at least 620 (or 580 for FHA loans), keeping your total monthly debt under 43% of your income, and saving enough for a down payment and closing costs—about 5-10% of the home's price in total.