Analyzing propoerties to live in, then rent out for cashflow.

[Ben Kirchner]

I wanted to get some advice/opinions from with some experienced minds here.

I plan on purchasing a new home as a primary residence this year.  The idea would be to then move into a new primary residence, and rent out old residence.  The plan would be to do this for the next 3-6 years.  Reason for doing this would be to purchase new property for low money down (5% each) and get a lower interest rate.  

So when looking at my new residence, I'm looking for something that would cashflow right now, so it will when I end up renting it out. I'm working with a realtor to feed me properties from MLS that fit the criteria of: 20 minutes from my work, 2+ bed/2+ ba. I've been looking at the properties fed to me and basically lookign on Zillow's Zestimate to see what they have it as truly worth, and rentometer to give me an idea of what it would rent at. Would there be anything additoinal or different that may serve me better as analyzing potential cashflow on a purchase?

Also, I'm unsure if I should be leaning more toward on fixer uppers or turn key properties with my goal.  I would have some extra money to fund some fixing.  I've thought of narrowing my search as well to filter through properties, and perhaps become more marketable for tenants?  3+bed/2+bath? single family homes? Newer developments (newer hvac, roof, etc...)?  I'm also unsure of what price range to shoot for, to best suit future tenants.  I live in Durham, NC.  The income per capita is $27,748, which includes all adults and children. The median household income is $48,241

When it comes down to it, the cashflow is what I'm looking out for.  The house will only be my residence for a year.  If anyone has experience with this strategy, and could share their first hand experience, I would appreciate your input.  Also, any advice on analyzing properties to cashflow would be appreciated as well.

Thank you

Ben