And even at that Scottsdale is a big place, or at least a long place. Northside, foothills. Also Cave Creek and Carefree. Most of "Phoenix" is a flat pancake of sprawl. I think it is cool out Gold Canyon way, too.

 

Yeah, I prefer North Scottsdale.

 

I've considered it as well. Though I'd be looking for income and the possibility to flip it a few years down the road. While I get paid well for what I do, I want something more. Something to shave a few years off that retirement target. Especially because my job is an easy one to do freelance or remotely for a few months at a time. So I could easily be semi retired working when I wanted.

 

I remember when the airport was north, far north, and Carefree was an excursion. lol Now we seldom get south of Shea.

 

I live in Scottsdale. I would buy here and just visit Vegas for vacation. Our real estate market has made a great recovery. I live close to Old Town but like everyone said, Scottsdale is a big place now. I have grown up here and remember when driving to my grandparents' house at 92nd and Shea was soooooo far (and a 45 min+ drive down Pima). Now it takes less than 15 mins on the 101.

You could buy a condo in Scottsdale for $300k with an HOA of around $200/month---and do really well airbnb'ing it to the snowbirds.

 

the problem with rental real estate in LV is that the market is saturated with rentals when buyers / investors scooped up the foreclosed properties in 2008-2011, and then rented out these properties. The rental rates are really low compared to other cities. I have a friend who was renting before buying his own house, and they were paying $1200 month for a full size house, 4+3. Might put you into negative cash flow with rental rates being so low. This is another thing to check out before committing to buy (if you are looking to purchase and then rent out). As a comparison, where I am at, you pay $1800 / month for a 1 bd apartment.

 

LOTTA fun to be had in Old Town!!!! Good eats!!!!

 

Being an actual owner of condos both at Sky and Turnberry, I think you can get a decent condo close to the strip. These two might be priced out of your range a little but you can try Allure as well. All good properties with decent HOAs.

 

For any kind of reasonable income stream you will need a good sized downpayment. And then consider what the additional cash down would be used for-invested otherwise.
2 years for any significant market improvement, especially in a condo (unless it is absolutely top end), is very optimistic.
With any HOA look at # of rentals in the complex, % of funded reserve projects, & deferred or planned maintenance. To name a few.
We own and manage numerous properties and, if you go about this by yourself, well....the learning curve is highest from the first to the second trial.
If you get my meaning.