Assuming you narrow it down to 2-3 areas I would then speak to several property management companies and/or investors to develop you 1-2 target markets.

Most of the software I have seen looks solely targeted on the short term rental space. 

For example questions I like to ask are: What are the current rents, target rents and who did the market study to show you can get those rents?

This page also has all you need to know about the BRRRR method.Hopefully these resources help you set goals and clear targets as you learn more.All the best!

@Karolina Powell - I am also targeting 10-30 unit properties and have underwritten 75-100 or so...

Of course the bolder the target, the less likely it is and probably less than .01% of people could pull this off.More realistic advice is to get as high of paying W-2 job as you can, save up, put 5% down on a 2-4 unit, manage the heck out of it, and then leverage that experience to do a larger deal using OPM.

I ma a partner at Southern Impression homes and proud to say that with our targeted areas and in house financing our properties due in fact cash flow right from the start.

Then if you are only looking for cosmetic flips then you limit your targets and increase competition because every wannabe HGTV, realtor, interior designer, contractor, handyman is looking for the same easy flip.Its doable but lots of strategy and organization, hustle. 

Market Research: What methods do you use to analyze and understand your target market?

I like being able to target the ones that are 1) out of state executors 2) only 1 heir 3) in my favorite farm area.