Following Trend of SFR through CAP Rates

[Thad Hayes]

I want to get my foot in the door into an untapped hot market but I just don’t know where or how to begin. Before diving, how do I determine what cap rates or areas should I scout for especially for a market that I’m not as familiar. Below are the two main questions I need answered before pursuing this lucrative endeavor.

What resources or data items should an I obtain to determine and calculate the current cap rate, the realistic cap and the trend of the market?

Is it possible that SFR (single-family rental) cap rates may have substantial differences between counties or subdivision within the city perimeter versus outer city perimeter, i.e Atlanta, Charlotte, Dallas or Tampa which have high competition, high value of homes sold but low rents?