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.

We always recommend starting local when possible.

Atlanta is a strong multi-family market with a diverse economy, a growing population, and increasing demand for rental properties.

Now we're seeing major disasters in densely populated areas and insurance companies can't maintain their profit margins.

Hi @Fulati PaerhatiI'm local here in Memphis and for that price point, I would recommend the Millington and Oakland areas. 

A few years later, I hired a local Wyoming attorney to create a living trust.

The property is in Cuyahoga county Ohio which I believed was a decent area to start out due to the population and amount of things to do in the general area.

Starting locally vs. out of state:I always recommend starting locally if it aligns with your goals.

The market you are looking for should be one with strong population and job growth. 

Always research local regulations before investing.The Importance of a Local Investment TeamA knowledgeable local team is essential for success.