@Bob Asad investors in high-cost areas do this all the time, but I wouldn't.They are betting on both value & rent appreciation, but it is speculation.

So, you think CD is my best bet?

If you're looking to take down a ~$35k property in PHX to hold and sell later, your best bet would likely be to drive those areas and contact the owners (or their brokers) that are selling.   

You have to be an expert at dialogues and the risks of subto are not widely known or are said to never happen (loans being recalled), but that's not what I would bet on.

All bets are off in some jurisdictions if you refuse to rent based on race, color, etc.

@Travis AndresIf you do not have other assets to secure against - your best bet would be a private lender willing to take risk of essentially providing an unsecured loan.There are people out there that do this - expect very high interest rates.

In my opinion- East Garfield is a good bet for investors.'

Your best bet is to continue going to local real estate networking events and speak with landlords and investors.

You might also be able to employ a short term rental strategy to increase cashflow-- sporting events, conferences, homecomings, graduation, etc. always attract people to the area.Ask around and try to find people who are investing in Amherst/Northampton and connect with agents in the area to see what's working.

Keep in mind that Myrtle Beach is a big destination for Bike Week (Spring and Fall), Youth sporting tournaments year round, golf and conventioneers.