Instead, I just decided to head in "that direction" and figured I'd get to the destination eventually. 

I'm using PriceLabs, but still figuring it out.

I also like to cross-reference that data with Facebook marketplace, craigslist, Zillow and apartments.com listings to get a really good idea of expectations for rent in a specific area.

I figured what better place than the bigger pockets forum to ask if maybe I'm not thinking of all my options.

I would NOT remove any money from index funds as I expect those to be a great earner into the future and very steady hedge against other avenues.

One side can't be expected to just eat the vagueness.

@Joy McQuearyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I would figure 6 months carry cost (cost to carry the property while it is vacant).

My sister recently moved to HI, and I figured that might be an interesting market because of high rents and HCOL - although also high property values.

I figured the minimum increase to list in auction from the year before would have been enough.