Some of the things I can share is we look at demographics for the property location (crime, population, market comps and sales trends. rents, etc.)

I've just moved to BA from the Denver area, have three rentals back in Colorado, and am studying the landscape before diving in.  

I usually pull my lists based on demographic data; age, equity, absentee owned, etc. 

Annnual Property DataOperating IncomeMonthlyGross Scheduled Income$3,700 Vacancy & Credit Loss @ 10%$370 Effective Gross Income$3,330 Estimated Other Income (Late Fees)$-Gross Operating Income$3,330 Operating ExpensesTaxes$433 Insurance (includes MIP)$370 Water/Sewer$150 Trash$30 Property Management @10%$-Gas and Electricity$-Repairs @5%$185 Landscaping$50 Reserves @5% (10K already on hand)Total Expenses$1,218 Net Operating Income$2,112 Debt Service (P&I)$1,865 Cash flow (want is >$100 per door)$247

My suggestion in picking a market would be demographics and cap rate of course, but beyond that, pick a region where you have people you know and trust to refer resources, and who have a first hand pulse on the market.  

I know when I first started I went over boards on modifications because that was what I liked but soon found out I was only targeting a very small demographic and I was not in a financial position to cater to that niche.

@Paul Winka i do believe there is always places to find value adds.some of this depends on the price point you're trying to match, the area, and how you accentuate and market it. you would do something different in a million dollar house -vs- a 40k house.typically flippers asking the questions fall closer to the lower range, therefore my answer would relate to those. your target demographic is probably a new home owner, and with that, you want to show them a few 'sparkly' things. don't go crazy, but a little pizzazz will make your property stand out. and you want that in the kitchens and bathrooms. add and extra $500 here and if done correctly, get a 'potential' $5000 in the back end.you may be able to add a deeper tub, or get one with jets. matching nickel plated fixtures. if you don't have room for a separate shower, then add something as simple as a curved shower rod.  

Scott yes I have an awesome flooring guys, painter and Landscapers.

-New Roof ** (no leaks found from investigator, did of course suggest to replace since shingles were curving) // 7-8K-Front porch beam re-alignment * // 6-700 bucks-Landscaping (need to slope up sides so water doesn't flow directly into basement?

Contact the landscaper and verify this is true and that they will continue to do it for you at that price.All existing contracts transfer with the sale of the property.