Market/submarket in the Twin Cities

[Mike Moe]

Hello BP!

Looking for some guidance on how to narrow down to a more specific submarket to research and analyze deals in MN. I've been analyzing deals for a few months now, but find that i don't know enough about the specific areas to truly understand if its a deal or not. This has lead me to think that i should probably narrow my focus on a specific submarket, instead of trying to analyze deals in the entire Minneapolis / St Paul Twin Cities Minnesota area! I'm looking for maximum cash flow, and would prefer something on the north or west side of the city. 

To clarify my goals, i'm looking to purchase a small multifamily unit (3-8) within the next 6-8 months. I'd like some value add opportunity, but not a ground up rehabs for my first deal.

Any thoughts on where to start the process? So far i've been trying to analyze overall submarkets by the 1% rule (medium rent/medium home sale in the submarket). Thanks in advance for all the knowledge!