If you haven’t already, I’d scope out the municipalities around town.. from what I read in The Economist, the Phoenix metropo area continues to rank high for job growth, which usually bodes well for new builds.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Do you know how to read the credit/criminal background?

Spend MORE money, spend more time, have more people yell at you and threaten you. 

They make more than me! 

Dallas is a city with a lot of potential to invest in real estate.

Currently exploring investing in South-East Spain (Almeria) for STR.From what I read as US-resident, it's much more advantageous to invest via a Spanish SL (able to deduct costs in the tax + less transfer tax in the purchase). 

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

In short, yes PS can do everything DM can do and more.

More common is you move into bigger, more expensive homes that you buy, or perhaps downsize into a home without a mortgage.