I can't see many people wanting to travel there... best spots for AirBnb in Phoenix metro area downtown, tempe, oldtown scottsdale and kierland area.Ultimately, the question to answer is "Is the product I'm trying to create something that people already want?"

@Jeff Bridges you are spot on.  

That should be your sweet spot.  

Is spot on!

But right now I'm focusing on trying to find the right spot, that offers what we desire when it comes to living.

Maybe spot check a few leases if you think they're lying on the rent roll (though I've never seen this).From that you have a few major costs: Debt service (sellers costs are irrelevant), property tax (easy to see online), utilities (if it's 'all bills paid', pretty easy to est -- even easier if it's just water), insurance (I know what I pay per $1000 insured, and the seller may be paying too much or not have insurance at all), management (I know the incremental cost for me to add a property.  

You should spot that long before it gets to that point. 

That would put you in a bad spot.  

I do not like being able to spot Lowe's or HD vanities on TV or in comparable listings nearby so I hunt for the vanities online and buy tile and anything tile related at Floor and Decor even if it is a haul for 1.5-2 hours to get there for a look not found at Lowe's. 

Now see the house-- just pick a spot off I-5 there someplace in a decent neighborhood.