How to Research for the Best Local Market

[Kyler Wright]

Hello everyone, I am only a month into my REI research and education and I've been trying to consume as much as I possibly can. After listening to many hours of podcasts and reading a few books I am understanding just how important finding a good market is, and I have a few questions about how to conduct my research...

Also, I am planning on taking the fix and flip (house flipping) approach to begin with hoping to build capital for my future rental portfolio.

Q: What are specific stats and data I should research for every market I am considering to compare them, and find which is best for me? 

Q: How far away is considered "okay" as a beginner trying to find a market?  

I am currently 1 hour away from Birmingham AL which is the biggest city within an hour of me so that was what I assumed I would start with. But, I have heard that Huntsville AL is one of the best cities to invest in due to it's rapid growth but it's 2 hours away from me and I'm not sure if that would be too far to have as my first market. Also, I'm not sure if Huntsville is considered a good market for rental properties only or for both strategies.

Q: Are markets that are good for buy and hold rental properties directly or inversely corelated to a good fix and flip market? Or are they not corelated at all?

Any and all feedback will help! 

Thank you!

Kyler Wright.