@John Hyun - establishing your goals and purpose for real estate investing is step 1 in my 10 Step Guide.

Devyn ....in order to qualify for a FHA loan ( or any loan )  ...you will need to be able to  qualify for the loan ...do you presently have any employment / income that  would be usable for qualifying purposes ?

Which leads me to look further south:However, if you look at posts from @Doug McVinua and others, he is saying that the same tailwinds (jobs, income growth) etc is favorable for QueenCreek, San Tan etc AS OF TODAY.

@Matt HamanAn LLC isn't necessary for a new buy and hold investor and is more of an expense than a benefit.Most people will recommend just having enough insurance coverage.An LLC for buy and hold is a pass thru for tax purposes.

Single member LLCs are a disregarded entity for tax purposes.

Can you lead me to a link or where does it describe the legal conditions for wholesaling?

What's the purpose of having the balloon payment?

I am not sure how much experience you have outside of the triplex above, but if you don't have experience in something that big, it might be a stretch to sell someone on you being an experienced business partner to lead a deal that big. 

Would it be advantageous for loan qualification purposes to become a co-borrower on a mortgage with my LLC (as opposed to a guarantor)?

That is all private and SB capital and it will follow (not lead) as soon as housing set's the trend.