I grew up in the area (Maryland) and attended school in state before moving up to NYC and then SF for work in professional services (consulting, strategy) and technology.

There are a lot of scary similarities in the market right now as in 05, 06, but agree that the shortage of affordable housing (builders are just now starting to build them, way after the fact) and labor shortage (kids uninterested in the trades) will delay the arrival of a correction (agree it will come eventually).Plus the employment base in Phoenix is much more diverse now than 10-15 years ago (construction & financial) to a lot of technology and corporate support services recently added. 

There is a lot of technology available to help you manage your properties.

Thankfully with the technology of today; there is a huge opportunity to wholesale from a distance that if you two can master it...you can acquire property anywhere. 

Technology provides alternatives to mainstream lifestyle of 1980s-present My vision is different than the historical "urban migration" trends.

The other 5% older tenants who don’t know much technology would deposit the rent to my account at a bank teller counter.

Charles County (fastest growing area in the region), the expansion of Westport Plaza has reinvigortated the nightlife in the area and the new World Wide Technologies headquarters is going to be great for the region. 

But with technology today why not take advantage of opportunities in other markets that make more sense for your strategy, goals, available capital etc... 

I get to work with an amazing brand to bring our sales tools and commerce into the current atmosphere of e-commerce through innovative business process engineering and technological system builds.

If I had to go back to 1996 when I started, I would do the same thing - get a small multifamily and live in one of the units.One thing I'd change is that I'd operate on of the units as a short-term rental/corporate rental.The technology wasn't around then, but it sure is available now.