These parameters will help decide what kind of yields you are searching for, which you can use to filter down your list of macro markets.Then I would start by looking at the macro market's fundamentals, that is the population, job and income growth over time.After that, I would look to see what the rents and home prices are and how those are trending as well.I would do a similar analysis, but at the sub-market level for the metro area you are considering investing in.Other metrics that I find valuable to understand are household income, poverty, unemployment, and educational attainment.

I'd leave the sheet vinyl if it's in good shape.

I'll tell you if it's on the list of trends I am tracking. 

I will be keeping a close eye on local trends in the coming weeks.

It’s in pretty good shape and don’t think it would need replacing for a while.

If the is in that bad of shape and not habitable, it may not qualify. 203k loans do take a while to close as they require contractors to give bids following government guidelines.

Looking forward to connecting with you all, sharing market thoughts, trends and strategies!

I am looking to hone in on finances next year (after our baby comes in August and the wife goes back to work) and we will be paying off her school loans and getting any credit in great shape.

Either way you are focused on a project that has a high degree of difficulty, especially for a newbie.Personally, I think you would be better off finding a house that is good shape, in a neighborhood where prices are $80-$100K (not in the war zone), and ones that will have good cashflow. 

The house appears to be in decent shape and is listed at $135k.