I'm looking for a market where I can park the proceeds from my previous property and create some cashflow.

Study the market.

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

Purchase price: $35,000 Cash invested: $38,000 Another flip ready in the market. https://www.zillow.com/homedetails/4467-Sims-St-Columbus-GA-31907/76572533_zpid/

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)

Recently, our real estate agent did a market analysis and estimates we can sell for between $575K-$585K, resulting in a net gain after all of our fees of about $100K.

If things go sideways, you discovery greater rehab expenses, the market takes a turn for the worse, you can get in the red quickly. 

Instead of following trends, tailor your space to the lifestyle of your target market.

Currently, I'm analyzing different markets to see which one will best match my strategy.