Buy in a market not too far away, 30 to 1 hr from a decent city center where values are reasonable and a city push out with help your rent and appreciation. 

I had one reach out just today asking if I had anyone who might want to buy. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

With an owner-occupied loan, you can buy a house with 0-5% down and get 30-year fixed rate financing so you're not dealing with adjustable rates if rates go back up and not dealing with a balloon payment in 6-24 months which is plenty of time for an experienced investor but not a whole lot if you're new. 

To get a rough ballpark, sure, but sometimes you'll be way, way off like we've seen with the iBuyers who it turns out were too smart for their own good and ended up buying high and selling low due to to relying on data and not actual organic, boots on the ground experience pulling accurate comps like an appraiser or realtor who knows the market on not just a block by block or street by street but a house by house level.

However, co-living allows you to acquire properties with as little as 0%-5% down, drastically reducing the amount of cash required.Instead of needing $100K+ to buy a rental, a co-living strategy lets you start with a fraction of the cost while achieving higher returns.3.

In 2008 a friend of mine spend $300,000 to buy 100 houses in Detroit.  

Generally buying in nicer areas leads to better experiences and confidence in your investing, but lower cash flow when you move out.

With that said, I've done some research on the market and found the following information helpful in my considerations for Phoenix that you might find helpful as well:  Demand for both buying and renting property remains high due to the city's strong economy and growing population.