Traditional/local banks in Arizona aren’t the friendliest in terms of their construction loans and the hoops to jump through just aren’t worth a lower rate.

In terms of the refi of the BRRRR, does the conventional loan have to be a 30-year?

I don't want to go too much into specifics in terms of location, etc. 

@Aditya Sharma  If you are working with a wholesaler that is doing an assignment contract you may need to put down a non refundable deposit to the wholesaler and use the wholesalers title company but the process is very similar to a regular closing in terms of due diligence. 

I'd also check on water and utilities to see where those are at in terms of balances and who owes what.

As much as you probably want to help your relatives out (in terms of giving them advice), I probably would try to stay out of it.

In terms of fix things up, hire a property manager to take care that for you. 

That will pay over time.One trick is to skip expensive items like a new roof, which you get nothing for in terms of ARV.

Though the closing costs of the refi you have to bear in mind too, hopefully what you would save in terms of interest rate reduction pays for those costs in a year or two.

In terms of where to invest, many investors are investing in the midwest in places like Milwaukee, WI.