@Jay Wang if you look at most of my previous posts about Raleigh/Durham they are data-driven answers, however, in this case, I think a common phrase I hear around town best answers your question about Raleigh vs Austin."

What are the best sources to receive local real estate data I.e( market inventory, average days, median sale price, etc)?

Anyone can wholesale as you know, but what makes a good wholesaler in my opinion is the quality of the numbers and data they supply. 

AirDNA is a great data resource but you must also peel the onion.

From our website:Vacant Rental MarketingWe publish rental properties on 20+ websites, track all inquiries, showings and applications, so we can provide you with feedback via bi-weekly Property Marketing Reports.Here’s some of what our Marketing Department does:Marketing Pics are edited, so your property looks its best:Pics have our Watermark, to avoid crooks copying them and creating fake ads that may result in our ad being dropped from a website.Advertising is published on 20+ websites :We no longer use “For Rent” signs, they statistically attract lower quality prospects and increase the likelihood your property will have a break-in and theft.We track Web Views and Inquiries, analyzing the numbers to identify problems and trends.Showings are exclusively scheduled via our online scheduling software:Prospects can self-schedule at their convenience, 24/7/365, which increases showings.Prospects receive multiple automated communications after a showing, encouraging them to apply and give feedback.We track Scheduled Showings versus Completed Showings to identify potential problems.Our bi-weekly Property Marketing Reports show you Period & Total amounts for the following:Web ViewsInquiriesShowings ScheduledCompleted ShowingsApplicationsWe analyze this data to provide you feedback about what the numbers mean we should do to get your property rented faster.

I'm interested in knowing what it takes to be successful in this niche, and what are the challenges/learning curves that one has to get over.There appear to be quite a few barriers to entry for someone without the education, experience, network and net worth - this basically describes my situation.

You can also edit the layer to add more data columns like value, taxes, insurance, beds/baths, square feet, notes, or whatever.

Without getting into all the nitty gritty details, I’ve got a lot of data on my tracking spreadsheet that tells me I’m only really collecting about 55 percent of the cash flow I expected for the 4 underperforming units.

I would also recommend picking your preferred investment strategy first, then find a market where the data supports that approach.

Again, keep in mind the exit cap rate is a projection of what the asset expects to sell in 5 years (or whatever the hold period is) and nobody can predict the future.Solution: Ask the sponsor how they concluded their exit cap rate and where they are getting their data from.