It is one of the best regions to invest in buy-and-hold due to it's low acquisition costs and relatively high rents (large University and housing shortage). 

Places where there is a severe housing, much less affordable housing, shortage. 

Thankfully BP is here and I thought I would jump on and ask the folks here how things are looking in Arizona.Is there a shortage or a large inventory of single family residential lots?

Most East Side areas are no worse than B-grade, while you can go as low as D-grade on the other side of town, so be careful.As for Westwood, there is no shortage of properties to acquire here.  

There may even be shortages of things like shingles adding to cost and time.

Friends and deals are a dime a dozen, never a shortage of either.

I'm curious if there's much of a demand or shortage for higher quality housing for traveling and short term medical professionals.

I love highlandtown but there is also canton (a little more pricey), Greektown with some new development underway, Hampden where you can find JHU renters, Remington appears to be growing and Fells never seems to have a shortage of people looking to rent. 

Trust me, there's no shortage of buyers.

Our town also has a huge shortage of  rentals in general.