Northern Phoenix, AZ vs Frisco/McKinney, TX

[Bella Kapulkin]

Hey all, 

my husband and I are new to real estate investing. We sold our house in California almost a year ago, and are in the process of determining if we will try to stay here or if we will move out of the state. In the mean time we want to invest a portion of our earnings from the house sale into a rental. We want a single family home and have 300k to put down. We are debating between Northern Phoenix (AZ)  and the suburbs of Dallas, specifically Frisco and McKinney. I know people say just choose a market and go with it but I would like to hear if there are any parameters we should look at in making that decision, and how to do so properly. 

for example, I know property taxes in Dallas area are higher than Phoenix but average house prices are still lower in the suburbs of Dallas. We also have friends in the suburbs of Dallas who are looking to invest there which on one hand might be easier as they can help us out in case we need someone we trust to physically go to the property. On the other hand would we be in competition with them? 

I might be overthinking all of this but would love to hear some feedback on how to choose between the markets. 

Thanks, 

Bella