What's the Scene Like for STR or Snowbird Investing in the Phoenix Area?

[Matt J.]

Very general question as I know Phoenix is a huge market, lots of differences in neighborhoods. But overall, what is the viability of purchasing a vacation rental in the Phoenix MSA? Are there certain markets with looser regulations than others? 

I had seen elsewhere that Arizona had put out some legislation making it illegal for cities to ban STRs but has that been changed/overturned? 

I currently own and operate two STRs in Minnesota (1 in the Brainerd Lakes Area and one in Duluth) and think owning a vacation rental in a market where the winter and spring are the busy seasons would be nice to offset my current slow seasons being in northern Minnesota.