Yep. I've said it before and I'll say it again, the land flowing
with milk and honey. Ok, it's citrus and saguaro but you get the picture

************"Once affordable, Phoenix rents among fastest rising in US"W...

They have more skin in the game then you do.Make sure you get clear title.

These numbers do not get too far into the weeds instead, it is a 50000 foot view of a potentially healthy or on the rise market. 

If you have a healthy liquid account for unforeseen cap-ex and whatnot, seems like a good deal considering the area. 

My grandma happens to be very old and her health is failing and I recently talked with my parents about buying her house from them after she passes.

Banks want ownership skin in the game.Finally, where is the house located?

Yeah a lot have been telling educate yourself but also heard get into so I can get some skin in .

They have more skin in the game then you do.Make sure you get clear title.

Buying at a 9% cap and financing the purchase with 5%-6% debt still leaves you with a healthy spread which should result in a decent return.As next steps, I recommend asking the broker about the items above, obtain a rent roll and income statement for the past 1-2 years, and visit Best Places to review the population size, avg apartment rent, median home price, and unemployment rate in the metro area.

And remember there is always more than 1 way to skin a cat.