The strong economic growth has led to an increase in buying versus renting, which recently was as high as 40%.Home prices in the Arizona went through sharp highs and lows in the real estate bust, which saw a small boom with vast foreclosures.

Non-warrantable condos are higher risk to lenders because if its all renters, owners are more likely to walk away in a crisis since its not their primary home.

A little about myself i'm a u.s army veteran currently attending college striving for a bachelors in either Business or Economics .

It sounds exciting and I bet many properties have already changed hands in preparation for the new economics.  

Nice to see another finance junkie (Economics &a Finance here).

There are deals out there, just run the numbers, do your due diligence on the area and look at the economics.  

It's more likely a symptom of the effects of the economic crash for older folks.

However, since it will be a buy and hold, I could probably weather the storm if there was a housing crisis.

check your state laws many states have implimented new LAWS that are quite robust as it relates to who can deal with a homeowner that is in crisis.. 

If I would you I will do due delgance first it looks like you have that's not typically happens in the area wit housing crisis area