I'm in the process of looking in the hi-desert, as well.

Your maintenance expenses can also be minimized, by simply changing your landscape (if needed) to desert (no gras, no hassle in AZ).

But be careful, if your timer really does malfunction, your tenants wont notice or care until your yard is a dusty desert.

I don't want to rent an STR in the desert and see photos of white sand tropical beaches, and vice versa.

I also hope that it helps you be patient with me and other realtors who can sometimes feel like we're digging for water in the desert. 

@Kenneth Hartog Hi Ken, I can answer any questions you might have about investing here in the desert.

So for all the other reasons I simply do not see any kind of melt down.. could we have adjustments yes.Could Multi family hits some bumps it could since much of it is leveraged and those assets are suseptable to rent compression were as SFR 's that are owned free and clear can still maintain them selves even if rent fell 50% before they would be negative cash flow.Not being a dooms sayer but I have been involved with two companies that lost substantial assets in TX in the multi family realm to rent compression and or desertion of tenants to the new builds.But for most of us individuals that are in the SFR realm I think we are pretty safe

That all being said, I'd love to hear from others on great places to invest in Vacation Rentals in areas where you can adventure travel-so ski/mountain towns, fun cities and even the desert...or anything with awesome hiking as I don't get to do that a lot in Florida (but we do get to surf and fish a lot so it evens out).  

Works when traveling alone.One car is a Prius.Go to beach in winter and desert in summer.

It makes no sense to grow grass in the desert.