I would try to focus on a diverse economy with a growing population.  

We have thousands of people moving here fleeing areas like tax happy CA because the job market and economy are diverse and strong. 

Hi @Chris Seveney, a fund should provide you risk diversity since the fund will invest in multiple assets to essentially "hedge" your risk, should one asset in the portfolio go to default status.

Also because of the diverse backgrounds and movies of investors, I wanted to show to my investors (middle aged, has a good job but wants to grow their savings, has kids, can't invest full-time) case studies done by people who they could possibly relate to.

One of them is focused on the Pacific Northwest and the other focuses on the metal of the country, so there is some geographic diversity affect there, if you own both funds.

@Bob Okenwa@Patrick Kaiser Thanks for the thoughtful replies.Bob, it appears that PHX has dramatically improved it's economic diversity as measured by the Hachman Index (below). 

Indy has a growing population, growing jobs, diverse, modern industry and a local government that is willing to invest in their infrastructure.

Biggerpockets community is truly awesome through their diversity (buy and hold, wholesalers, bird dogs, commerce, developers, flippers, agents, etc).

The bug bit us and we haven't stopped since than :)You will love the diverse community and all the resources.

I think they have a a fair amount of diversity with the stories and the strategy: there was one a few months back about someone that started investing in hotels for instance.