Are there any recommendations from anyone who have found certain news sites or data sources to extract data from that has helped them understand the current market landscape in their target area?

A lot of people mentioned Facebook groups, and that may be the best source for what you are looking for.

@Courtney HamiltonRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

The private funding source STOPPED funding the project while construction was going on.

There are several great companies to work with in the Memphis area, I'd advise going with someone who owns the entire process from start to finish vs a referral source. 

Where can we find reliable source of REI Market trends?

I live in Naperville, Illinois and looking to invest in Brrrr propertied within a 25 radius to include towns of Bolingbrook, Lombard, Wheaton, Villa Park, Elmhurst, North Aurora, Wheaton, Glen Ellyn, Downers grove, Westmont, Schaumburg & Carol Stream areas.I am in the process of building a team of real estate agents,  licensed rehabbers, real estate attorneys, property sourcing channel providers etc.I look forward to members to assist me on my journey.Thank youSuhael Ahmed

@Mathew MorfordFrom personal experience, PropStream has been one of the best data sources I’ve used for nearly five years.

Equity gained from principal paydown is also free, if the source of the funds comes from the rent (tenant). 

Hey Noe, I work for a licensed investment brokerage that sources properties all over Middle Tennessee.