Targets for flips - neighborhood characteristics

[Chris Martin]

For those who flip properties or are planning to flip properties, I am curious. Do you favor neighborhoods where flippers have already (or are already) operating? Or is that irrelevant?

A follow on question is do you have a preference for neighborhoods where there is a higher sales level? For instance, is it "better" to buy a flip in a 100 house subdivision that had 10 houses sold over the last year as opposed to 100 house subdivision with only 3 sales last year? Or is that irrelevant?

I'm trying to get a handle on what market characteristics (not property specific) make for a good flip. I'm trying to look at this in a "top down" (pick neighborhoods first, then look for deals) fashion rather than a "bottom up" (find 'good' deals where they are, not neighborhood specific) way.