First time investing Chicago vs Phoenix

[Saumya Dash]

Hi,

I am a newbie from California in the RE world. I am considering to make my first MFR investment, but am trying to decide between Chicago and Phoenix. Some of the criterias that I am looking for are:

1. Property Price in the range of 200-350k.

2. Neighborhood - A,B,C

3. Decent cash flow close to the 1-2% rule.

Reason I am feeling indecisive is because I am finding lot of MFR in chicago area however I am concerned about the job growth prospect and vacancy. Phoenix seems to be getting started with job growth, however I am not finding much MFR in this area.

Need some suggestion from the Pros, even if it means to consider looking at other cities.

Best Regards.