So, run the numbers on properties after narrowing down what property you want by things like price per square foot, curbside feel, etc.

That would be a start to help narrow down what areas make sense for your family.

Since you have the down payment required it also means you know what you can afford budget-wise so here are the steps I recommend taking: Stop researching Zillow- While it's a good resource what you need now is some real-time data to make decisions to narrow down where you want to invest. 

I would first recommend that you narrow down a specific type of investment that you want to concentrate on like SFR fix and flip, long term rental, small multi, etc. 

Yes I agree with you but I am trying to narrow it down so I can finally pull the trigger.

Waiting to refinance to pull out my cash.In the meanwhile I'm looking and have been research on Florida and have narrowed down in a few cities in Florida.

You always want a plan A, B and C. 

@Steve LorIf you're just starting out I would encourage you to start simple and narrow your focus a little bit based upon what you are looking to achieve in the next 12-24 months.You can do an FHA loan if you are going to occupy the home but not if you plan to rent it out.

@Tato Silva Both Jacksonville and Houston are great market but you need to narrow your search down to zipcodes. 

That may help you narrow down based on your own criteria.