Hi Carlos I would caution that this kind of snapshot in time data is not how I’d recommend investing.

Most projects take minimum of 6 months to build and when you factor in time to close, you are closer to a 9 month min.

If you have intimate knowledge and relationships in your market leverage it. 

Over the past few years I've been pleasantly surprised by the appreciation also, though that was not the goal.

Therefore I invest in neighborhoods on the east side of the city (Evanston, Norwood, Madisonville, Pleasant Ridge, Deer Park, Madeira, Kenwood, etc) - my basic rule of thumb is to stay as close to Interstate I-71 as you can.If you are okay with C,D class areas in exchange for higher cashflow there are neighborhoods on the west side of the city or further away from downtown that can accommdate this.Downtown neighborhoods (Biz district, pendleton, OTR, Mt adams) are really going to be your higher end plays that can still cashflow enough to cover all of your expenses but CoC is going to be <5%. 

However, I am aware that Short Term Rentals are becoming a lot more popular and it scares me because I want to get in this market but fear I may not be able to get a property in time because I still have to save up. 

Make sure your lender knows these rules intimately upfront so you can preplan things such as proactively reviewing lease agreements and working in advance of submission of the file.

Take action and call themThis is a great way to find vacant properties as neighbors or people that have an intimate knowledge of those neighborhoods are the ones that report these properties which tend to be eyesores for their communities.Again here's the document!

Right now you are paying for it in time vs. money.

There are a good number of tenants looking to get their kids into the Clay Chalkville school zone, so if you buy here, that is definitely something you should take into consideration because there are parts of the 35235 that are not zoned for Clay Chalkville. 4. 35127 - Pleasant Grove - This area is very comparable to the Hueytown area (above), but it covers a slightly less dense geographical territory.