What about the impact on real estate?

Also, getting a mortgage can affect your credit score as they will run a credit check on you, but if you don't have your credit pulled often then this should not have much impact on your score at all. 

Coming from a no/low wealth family I’m just trying to do something that can positively  impact my future for generations and generations 

As long as you make all payments on time, your score will not be negatively impacted from multiple mortgages.

Do not jeopardize your Homestead by renting your property.Before buying real estate property, be aware that non-ad valorem assessments may have a significant impact on your property tax bill.

Is it near areas that strongly restrict short-term rentals that may impact the jurisdiction that you were planning to be in?

Unemployment is at 60 year low, this is best time to increase interest rate, but that will impact economy and current government like market stay inflated.In Every recession Fed reduce 4-5% interest rate, we are not at even 4% now... not sure what will happen in next recession.Major dilemma is to invest or not... best bet is invest where there is highest in migration, those area will be safe over longer period.

Sponsors and investors that recognize that social and cultural conditions could also negatively affect their assumed 30% IRR would have a better chance of survival if and when the apartment bear market arrives.

I found the written books just didn't have the same impact for me.

The reason I ask is that with Phoenix being a MUCH larger metro area, you'll have a much higher demand for rent, easier resale, more properties to choose from, etc.When investing in "small towns" sometimes you can get a little better return on the purchase, but depending on the local job market, demand for housing, etc. it can greatly impact your strategy.