In a buyers' shoes, it depends on if the work was done right and will work well. 

I've talked to many investors whose biggest frustration was purchasing what appeared to be a great deal but having limited professionals to manage and maintenance the property.

You could assume the loan from your seller, stepping in his his shoes and then have a second that you him for the balance.

Its cool to see there's quite a few people in similar shoes interested in the power of RE over here. 

Fortunately because of the recent events of the world it appears that many long time owners are starting to consider to sell!

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

You can also gather  evictions and unpaid bills  on your credit history  as well as a number of Court appearances when the landlord sue you for non-payment. posted by @Benjamin Vail:What is easier to walk away from and loose:1.

Doing a quick search, it appears that Colorado law only requires that the therapist be licensed in Colorado, not that they live or practice in Colorado.

Congrats on finding what appears to be a great deal in this market.Can I assume the reason you're interested in owner financing is that you have limited funds?

I attract the longer-term guests through my listing in the MLS, which also appears on Zillow and results in direct calls from potential guests.There are other locations within Phoenix/Scottsdale that do well, but homes in 85250, 85251 and 85257 are worth a look because they are close to where the action is.Keep doing your research, checking availability calendars on Airbnb to see how booked Scottsdale properties are or aren’t and run your numbers until you find the right property.I started my first VRBO in 2005 when you could only lease for 30 days+, so I feel like no matter what the regulatory climate, there are opportunities in a destination where everyone wants to be.Best of luck,Melanie