It really depends on what kind of investing you are looking to do. Do you want to "fix and flip"? Are you looking for cash flow? What kind of ROI are you looking for? What is your investment budget? Are you looking to purchase REO property or short sales? Are you looking to purchase at trustee sale auctions? There are many areas of the valley that are profitable, but the pricing will range from $30k to over $1 million. I would love to answer your question in more detail, but I will need more information on what type of investment you are looking for. You can contact me directly at firstname.lastname@example.org if you would like. Happy investing!
You mean cash flow???? Old beat up homes in Phoenix.... $45k will get you $800 in rent plus those homes do not have HOA fees. However, that does not necessarily make it the best place to invest. When the market comes back, location will again be the biggest part of appreciation. Its cash flow vs. location with good options in between the extremes.