I was also planning to work for a property managing firm to learn the ropes of the state and local codes while continuing to invest.

You would need to bring everything up to code currently and that's going to be cost prohibitive.

@Adam AeroI completely agree with @Sofia Komrskova about doing it to code. 

You will need to narrow down the zip code or street a little more based on where you decide to purchase, but this gives you a good start.

Cosmo - I personally don't know Phoenix well, but if I had to do this in another city I would look at income levels, crime levels, and population growth (if you can) by zip code and/or area within a DMA as a starting point.

If you use the code PMLIVE24 at checkout you will get 20% off ($312 at checkout) your first year of Pro.

However, there are tax code changes every year.

Quote from @Aaron Letzeiser: Quote from @Sahand Vafadary: Quote from @Aaron Letzeiser: REVISED CODE@Aaron LetzeiserI was hoping to work with Obie, but on the last page before signing the documents, I came across this disclaimer, which made me rethink my decision. 

Zip Code: 0883            i feel it appreciated very well and i don't think it will go any more in next few yearsNeed Advice  -  rent this property  or sell it ?            

What seem to be the best zip codes for rentals?