Preferred Markets for Multi-Family Properties

[Nicholas Matthews]

I have an interest in Multi-Family properties as cash flow investments. Like many places in the US my market is so hot there are very few opportunities at this time. In the interest of keeping options open as well as getting practice analyzing deals I'd love to hear  from those who invest in multi-family properties outside of their local markets.

1. What markets do you prefer and why?

2. What metrics do you look at to determine whether a long-distance market is worth your time/money?

3. What sources/websites do you use to obtain your metrics?