Scottsdale is directly adjacent to Phoenix.Sedona is 3 hours to the North. 

Odessa, the adjacent city is has also maintained the high demand for housing as Midland, causing minimal price reductions from two years ago.

For the markets I determine are "green light" markets, I will then start a dual parallel-track process of checking investment opportunities to see if the numbers work (generally speaking) and contacting and interviewing property managers to get their take on the market and begin building out a potential team of local "foot soldiers".The mind dump of metrics I came up with for my analysis so far are (in no particular order):Recent Population growth (2010-2013)Median gross monthly rent (2013)Median gross monthly rent 3-year change (2010-2013)Vacancy rate (2013)3-Year change in vacancy rate (through 2013)Rent as % of income (i.e. median monthly gross rent as a fraction of median household income)3-Year change of rent as % of income% of households that are renters3-Year change in % of households that are rentersMedian price for all SFHs (December 2014)3-Year change in median price for all SFHs (through December 2014)Median price for all 3BR units (December 2014)3-Year change in median price for all 3BR units (through December 2014)Median price for all 2BR units (December 2014)3-Year change in median price for all 2BR units (through December 2014)Median gross annual rent (i.e. monthly gross rent * 12) / Median price for all homes - I know I am kinda mixing apples and oranges here, but it's the closest I can get using available objective dataUnemployment rate3-Year change in unemployment rateGDP growth (time period depends on data available)Job growth (time period depends on data available)Household income growth (time period depends on data available)Proximity to major international airport (i.e. how easy will it be for me to get there?)

This is pretty critical to the states economy because the state owns and maintains all the airports, highways, and maintains ships and crews for the Alaskan marine highway. 

At the very least, you have boots on the ground to check out a property if you get into a pinch.That being said, not everybody can or wants to pick up and move to Florida.I can't remember where I heard this, but someone suggested that you should invest w/in 2 hours of where you live, including flights and time that it takes to travel to the airport.

I am comfortable with North Oak Cliff, North Dallas, Irving, areas north of DFW Airport, the Mid-Cities Area, Grand Prairie, and Arlington.

I hire a driver to get to/from the airport.

i had a guy come in and spray..twice the roaches are going into the adjacent apartments due to the spray, bait, and the fact that the food source is gone since the tenants are gone.

Another Aunt/uncle bought their home for 80k and bought an adjacent similar home.

As far as within the City of Wilkes-Barre, I'm always looking for properties that are immediately adjacent to the two colleges downtown: King's and Wilkes.