Make sure you diversity your team.

Pick a few cities for the obvious reasons (jobs, population, diverse economy, etc.) and then start calling managers to interview them.

The area has always been much less affected during recessions and commanded higher rents due the diverse economy of the area. 

Look for modern, diverse industries and economies.

High rent to lower acquisition point is a huge factor, but please don't ignore all the other factors - net migration, income growth, path of progress, job diversity, legislation, taxes, personnel in the area to build a successful team....etcI heard on a podcast the other day that your internal team is like your golf swing and the area you choose is the golf club you select. 

medical center area is a big broad  and diverse.

I am new to the real estate industry and would love any advice on how to create a diverse portfolio and build passive income. 

Diversity of industries in your town...

We're home to a diverse population (culturally, financially) and we don't want our neighbors priced out because you out of state developers want to make a quick buck.

DFW is a huge metro and seems to have very various and wide levels of neighborhoods so I believe DFW is an excellent REI area in terms of diversity, but at the same time, it is a little difficult to set a target and plan for beginners because there are too many options and strategies available.