Partnerships, good agents and property managers are critical when purchasing across borders. 

Since the tax assessment process varies so widely around the country or county or region (and in some places even from town to town that border each other).

but the speculators of the day especially in the high desert out of LA always sold it that it would be the Next LA  well they been saying that for 100 years.. although Palmdale Lancaster has grown to be 50k populations maybe more and people drive into LA to work.. and Edwards airbase is there and it ebbs and flows with govmit jobs.. but most of the other areas are all what we call recreational lands  surrounded by nothing and or border vast tracts of BLM  and State lands and federal lands  be them state parks or federal parks.. just google it.. you will see.one needs to understand in your area lands were divided and lived on starting in the 1600s or earlier in some cases and well established in the 1700 and 1800s  these areas in those areas were still lands of Mexico in some instances and or Spanish land grants.

I appreciate your comments about providing ongoing education but it seems even this is a real gamble.... at least for the renter. 

I know that appreciation is a gamble, but if a city's economy is diversified and there is a finite amount of land in the prime location that is downtown/waterfront then chances are it should appreciate, right?

But of course that’s the gamble. 

My wife and I grew up in Chandler and currently live on the border of Chandler and Gilbert in a county island.

I live on the border of Kops Park and Golden Valley.

If I want to gamble I go to the casino.

I'm utilizing both of those stock options and feel it is in line with my "gamble" on the company as a whole, if all goes well and they grow and show a profit, it will have been a great investment.