Tools/reports for finding the best target markets?

[Mason Grande]

25/yrs old working towards investing in my first rental property (probably SFR) and have been trying to identify a great area to start building a portfolio. I'm located in Denver which is one of the most overpriced markets in the country so i'm looking out of state. You guys aren't kidding when you say the first property is the hardest, I'm still stuck on region. I am looking for the best tools/reports to identify a target market in my price range (up to 150K all in for a SFR). I am really trying to "follow the data" as much as I can. I thought I would share some of the resources I have found most useful and I am curious what tools other investors use to decide the market they enter. I am intrigued by Fayetville/NWA, San Antonio and Raleigh/Durham.

Local Market Monitor - I really like this organization and some of the reporting they are doing. Their founder Ingo Winzer has done some great presentations on risky/overpriced markets > http://multifamilyu.com/avoiding-risky-markets
Local Market Monitor's Metro Data Ratings > http://preview.localmarketmonitor.com/wp-content/uploads/2020/03/Metro-Data-Ratings-1.pdf

I will probably buy Local Market Monitor data once I find a target city. Its not cheap but definitely worth it when looking at the bigger picture.

Department of Number Job Growth by Metropolitan Area > https://www.deptofnumbers.com/employment/metros/

Neal Bawa's Real Estate Trends Toolkit (see realfocus cheat sheet for cities and neighborhoods) > https://www.dropbox.com/s/77vogbooxvczwz3/Location%20Magic%20-%20Realfocus%20rules.pdf?dl=0

thoughts? 

[Abe McLaurin]

Use trusty realtors or wholesalers in the area. Gain as much useful information as you can, access to the MLS would be very helpful here. A lot of investors may be on multiple buyer lists. This can give them access to new deals almost daily! I am also from Colorado but currently work and plan to invest in Columbus Ohio! I was surprised to see deals (both SFH but especially MF) in the 100k's-200k's, a rare sight in the Denver market.