In my experience, most mom-and-pop investors lose a lot of money due to poor management of tenants, as well as poor/deferred maintenance.

Hi Rogelio,No-financing contingency is definitely more risky especially for first timer.If you have high credit, high liquidity (more than what you need for this deal), no potential red flags, then it could be worth considering.

Our goal is to be able to use either some type of software or spreadsheets to continue to build off of and help dial in our costs as we begin to hire more contractors for our team.

You can be honest that you will not be the ultimate buyer.  

For DIY - use Zillow and maybe FB Marketplace (just have to watch out for scammers).We're on 30+ sites, but we have scales of efficiency that would be hard for you to match.

If the property isn't worth 100k after the rehab it will be hard to get into a DSCR loan.

I have a large one-story home in PHX that I think would be ideal for this strategy based on location and the home itself.   

It'll be better for you to maintain and last longer.Also, make sure you are capitalizing and depreciating the flooring when you do install something else.

You will be amazed and never tolerate the horrible yellow light from cooler bulbs again. 

If you don't feel you can be business-minded enough, hire a PMC.