Allowing me time to "safely" do my due diligence with the prevention of contractors I work with to go around me.Now i typically don't do option agreements with everyone... only stubborn sellers that aren't sure what they want for their property.

Based on the inspection, I had parts replaced to prevent leaks and water damage.

I know I cannot buy them directly because the "self dealing" rules prevents me from buying as a disqualified person.

Is there anything preventing me from doing conventional financing from a bank to purchase this?

The more you clearly define up front in terms of how you will compensate each other prevents blow-ups later. 

I have a fire prevention company test the detectors and also test/charge/replace extinguishers.In general, the way "rules" should work is that you put reasonable rules in your lease, and then let people live their lives.

However, when statements like these are made you could be preventing an investor from taking justifiable risks and investing in gentrifying neighborhoods of Indianapolis.I'm confident there are many successful Indianapolis investors in the BP community who can give examples of properties they bought all-in for less than $35,000 that meet their investment goals.

At our local REIA the other day we had a speaker that claims if a deal is done properly Arizona Law prevents the lender from imposing the Due on Sale Clause.Is anyone familiar with what I's have to be dotted and t's crossed to make this work?

Is there a reason that you need to move which prevents you from continuing to live in the house and seeking roommates as Mark Gallagher suggested above.If I were single and starting from a property underwater that could generate significant positive cash flow, I'd live in a tinyhouse or some other similar meager living for awhile to pay off consumer debt, pay the repairs off and build up sufficient reserves to support the house. 

It adds fuel to the fire.As a wiser but still learning landlord,my goal is not to PREVENT you from enjoying all the learning experiences that landlording has or will offer.