Out of State investing and Demographic Data Source

[Monty McLamb]

I currently have 4 properties in and around Raleigh NC.  A great area if you got in a few years ago but prices have skyrocketed in the last 18 months.  Rental properties in ready-to-rent condition, or even with minor rehab work, can't even cover financing costs much less maintenance and management expenses. Investors are going primarily for appreciation.  As a new investor, I don't have the capital to cover those losses while waiting for the appreciation.  For that reason I want to start expanding my investments to other areas of NC or even out of state.  What are your best sources for finding the best areas for price to rent ratio and still good appreciation opportunities.  Where is a good place to research local demographic data for target locations, such as income growth, job growth, population growth, median rents and median income, as well as other important info? If there are other factors I need to consider, please share those also.