Lending guidelines are tightening with the anticipated recession.

How can I find the best area in my state or nationwide that would grow in price/rent? Which area/zipcode/county will grow in the future? Are there any websites? How does investors find good properties to buy/renovate ...

I would only do that if you have a large amount of reserves, enough to cover this property for a few years and take the hit of any loss income (e.g. job) since the Fed is intent on creating a recession soon.Whether you intend to hold this property for a few years or forever, I wouldn't get the 20-year note.  

Also, since we're coming out of a recession (and since savings are relatively low) it's likely that within the next 5-10 years, American households' savings will increase. 

Analysis paralysis makes me hesitant at this time with interest rates what they are and anticipating a recession.

I COULD purchase another rental property, but knowing there's going to be a hefty recession coming up, the value of that also will decrease.

As I understand it, a strong recession is expected around Q2 of next year, and I think then we'll start seeing some good opportunities for distressed debt acquisition, assuming the recession runs its course. 

Note that our hold period includes the Great Recession which was the worse hold period in San Diego in my lifetime.If you chose non-coastal areas the cash flow could be better from a duplex and the appreciation maybe similar as a percentage (producing a better investment return (as a percentage)), but you would not be living the beach life. 

New insulation across first floor along with sheetrock, Alexandria Moulding trims, primer, and two coats of eggshell paint (1,100 SQFT).Installation of 15 ea. 6" recessed lighting cans across first floor with pendant lights for the dining room and over the kitchen counter.

The goal of our fund is to do exactly what you said which is to provide diversification across recession resistant asset types as well as geographies, operators, etc.