Example with zipcode 11203:  https://www.zillow.com/rental-manager/market-trends/11203/Then if the market temperature on this page says warm or hot, I'll look up a house I might want to buy in that zipcode.

The AC unit is only 4 years old and hot water heater is new.

The AC unit is only 4 years old and hot water heater is new.

The AC unit is only 4 years old and hot water heater is new.

Depending on the amenities offered, and many HOAs in my market will also pay water bill, possible cable/internet, pools, hot tub.

The major concerns to me are the roof, the hot water heater, and similar.  

Most others who got their checks first and then went to get repairs done found that their checks did not even remotely cover their necessary repairs.The longer you wait to make repairs, the worse the damage gets - wet things in hot humid weather grow mold FAST.To hire a public adjustor or not - most will say yes - I say, depends on the person.

I don't think building here is a bad idea, definitely a growth market, but not a HOT market at the moment either.

Less desirable and by no means luxurious but not dangerous, no intensive management needed, properties unlikely to appreciate much over time but very attractive from a cash flow perspective.

Lastly, make sure you are meticulous when doing your Due Diligence a lot of investors bought properties to flip at the end of the hot COVID market but now those homes are sitting on the market or were forced to rent them.