With that said, I've done some research on the market and found the following information helpful in my considerations for Phoenix that you might find helpful as well:  Demand for both buying and renting property remains high due to the city's strong economy and growing population. 

Investment Info:Single-family residence buy & hold investment.

Quote from @Jaycee Greene: @Orlando Johnson Are you still looking at buying this property?

I did public record searches on all the tenants while I was in the process of buying the building just so I'd know who I was going to be dealing with.

One thing you might do is sell your more expensive properties and buy less expensive ones. 

I am glad you highlighted the management piece as this is a crucial part of buying in another market.Excited that you are stabilized and are generating cash flow on that deal. 

Quote from @Mindy Nicol: Investment Info:Small multi-family (2-4 units) buy & hold investment in St Augustine.

He can't 'buy her out' as he does not have that much cash liquid.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I have been consuming as much education/reading regarding out of state investing as I can as well as literature regarding buying larger buildings (not quite the syndication level) although I have been reading that material as well to digest.