Finding the right market
Does anyone out there have any kind of spreadsheet or market analysis tool they use to find their target market?
I have been looking into out of state investing and have had many turnkey providers reach out (thank you) but I am not at the point that I even feel right taking their time yet. I want to find the market that fits my strategy best first and then speak to professionals in that market.
I think I am more comfortable paying a little more for properties in nicer (B+) neighborhoods with good (rated 5+/10) schools with a modest cash flow where I have a better chance at long term tenants that take care of the place rather than a C-ish neighborhood with a lot of turnover and crazy high (2% rule) returns.
I have been looking at the major markets like Indianapolis and Memphis as well as where my current home and rental are (Anchorage, AK and Vancouver, WA) and am finding that I will probably be in the suburbs rather than the city.
All this being said, I would love to get my hands on a tool or suggestions on how to set one up to analyze these areas to find the best one for my situation.