We're also seeking to buy a local (Raleigh / Durham) property management company to expand that business more rapidly.

If you are an agent and local you should be able to scout the areas.

Any tips or tools for evaluating the local market would be greatly appreciated.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Go to your local credit union. 

You should be able to find local builders that will finance the construction component of your new build, however! 

But I would rather rent it out so it could be our first/foundational rental property and we can continue to grow our portfolio.We've been looking to rent for a while now but with the local rent pricing it is just as expensive/affordable to purchase your own condo than to rent.

Find out what your local laws allow for.

@Emma Whear I might suggest you talk to a local real estate attorney (or another owner of a similar property) to make sure you prepare yourself if/when the City's blind eye starts being able to see ;-)

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.