Selecting the right market for US flips - Your input please

[Suzanne P.]

My partner and I are looking to do our first flips in the US market and we have slightly different viewpoints regarding markets. My partner loves fast-moving markets like Texas with short DOM and high appreciation. Being based in Toronto /Ontario which has had an overheated market for quite some time now I am more in favour of starting to do flips in less active markets where there is less competition for properties and contractors. 

Around here I have seen many cases where properties get 10 to 20 offers on the first day and good contractors are hard to find, which makes it very difficult for flippers to get good profit margins.

I'd love to get some input from experienced flippers who have worked in different markets. Thank you for your input!