phoenix beginner

[JP Bonner]

Hi there, discovered this forum last night and found it amazing. I am a beginning investor I guess and have a rather open ended question.

Situation being that I moved to phoenix for a new job from VA where i currently have a mortgage that I have rented out and am using a property management to rent it out as I couldn't sell it, but at the same time Ive always wanted to build my real estate holdings as income for retirement. Im 28 and currently renting in the outlying phoenix area. I guess im going with the buy and hold single family homes strategy, but completely unsure of what to do with my next home purchase. I plan on turning the next home into a rental down the road, but dont know if I want to buy in the small town that we are currently renting as the property values are much better or move closer to the city where you dont get as much for your buck. I believe the small town has great potential but have been warned a million times to stay away from buying here as lot of friends of friends had to short sale or foreclose when the market came down. I am concerned with taking on too much debt/ liability as my mortgage in va is still rather new and upside down.

LOL I know I didnt really ask much of question but any advice would be greatly aprecciated.

[John Miller]

In what part of Phoenix are you renting? I have been here for six years now and have a pretty good idea of the better areas.