For example, if you're talking about areas south of Waynesville, plan for the entire process to run at least 2 years.

I've found that there are a lot of out of state investors who like Tucson and this provides a quick explanation for the area.

I haven't seen Southlake as a real good rental area though.

Focus on areas with new infrastructure and population growth—that’s where the magic happens.

Every decent area for investing in str's has competition. 

Personally, I will only invest in areas that I am willing to live in. 

There is a good real estate professional group in the area that I think mainly communicate via Facebook.

Murray Hill is a great area that will fit your budget and allow you to maintain occupancy. 

@Darrell Overly  there are certainly enough mobile homes in the area around phoenix (East Mesa/Apache juction) but your issue may be the age of the homes and any limitations the park has on renting.   

I am an investor and full time RE Agent that serves the Gulf Shores / Orange Beach area.