Start by compiling a list of candidates.

Heres the overview of what metrics I am currently compiling across various southeastern markets.1) Population, at least 250k in the MSA2) Jobs and Job growth, Job growth needs to be at least above 2.5% to indicate a progressive economy.  3) Unemployment Rate (should be below the state and national average to indicate proper growth)4) New product added (especially for multifamily)5) Absorption rates over a period of time (probably the last 12 months and then projected over the net 12 months)Of course there is much much more, but this is a start...I am currently looking for multifamily product in all of your major southeastern coastal markets as well as RDU NC and Greenville SC, I would say that the only MSA to stay away from right now is Atlanta, its smoking hot across the board and even more so for multifamily product...  

@Brandon Rush compiles this together each month.

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@David M. haha nothing yet, trying to compile my complete list first, thus my question to the group.

I've been driving around and have compiled a spreadsheet of addresses of properties I feel may fit my criteria. 

Then compile a list in excel and run the average formula.

There are multiple options available for screening packages; tenant involvement/no tenant involvement, instant reports, hand-compiled reports, and even income verification.You can find further information by going to Tenant Screening under the Tools tab.Best of luck to you!

In my profile, I have a long list of lenders that I have compiled that people here on BP shared, and they were able to obtain a HELOC on a rental house.  

Cyrus,the Urban Land Institute and Price Waterhouse coopers has compiled an extensive study on real estate markets for the past 30 years.