Hi @Jasmine Thermitus welcome to Bigger Pockets and congratulations on getting started on your real estate journey!

Do you also use Redfin/Zillow as a starting point? 

I have couple of lists but not sure which one to start with. 

That said, even with conservative rental income estimates, my living expenses would eventually drop to several hundred dollars less than what I’m currently paying in rent once the house hack starts generating income.I do have cash reserves to weather some rough patches, but the idea of pushing my budget this hard makes me uneasy.

Raising money is all about marketing and sales (not real estate specific) so either hire marketing agency and read sales books, or hop on some LinkedIn courses on marketing and sales.Not sure the legal structure to use: talk to accountants and attorneys.Need deal flow: talk to brokers and go to a lot of networking events.Lending terms: start calling banks and loan brokers.From there, it is all risk mitigation. 

It could be a great option for your client's needs, or at the very least, a starting point for comparison with other lenders.

Starting with a single-family can be a great way to start especially if you’re looking for a lower-risk starter project where you can get your hands dirty and learn a ton by doing.

Just would like to start building relationships with people In the Phoenix area as well. 

If you only have a homeowners policy, and something happens like a fire or a guest gets injured, and the insurance company finds out you're renting out the house, you're in deep trouble. 

I think the first place to start is evaluating quality deals.