How does one find a market and narrow down to find a deal when there are so many markets.

I'm interested in the San Antonio and Savannah GA market which makes my options pretty narrow. 

Like others have said the rate varies but it has been within a very narrow range for me.

At end the end of this point I've narrowed down the locations i want to invest in and I'm starting to do research on real estate agents, property managers, lenders to get the ball rolling.

Knowing the answers to the questions above will really help narrow down your search and figure out how you can find that first property.  

With that information I can then proceed to narrow down the areas that would make sense to look at.

Check out the crime stats (SpotCrime is a great tool) and school ratings (Greatschools / Zillow) to narrow the neighborhoods down.

I have narrowed down to wholesaling properties in Texas or Florida.

I feel like I have a lot of options as to where I can go from here but I'll narrow it down to just these:Option 1: Get approved for a FHA loan (since I have low capital to start) and then purchase a new home (small upgrade from my current residence). 

Best thing to do is research different parts of town, learn what you can about the area(s) and then start to narrow down exactly where you want to invest.