I'm relatively new to the REI space, but have identified that small multi-family units, SFH's, or mid-term/long-term rentals are my primary strategy as I continue to learn more and venture into other areas of REI. The primary drivers are cash flow with some appreciation over the long-term. I'm taking a 'top-down' approach where I'm primarily looking at best cities/counties within landlord friendly states to invest in, then finding opportunities that fit my budget and strategy. I was wondering if anyone had a good strategy/metric set that they use for identifying these areas, OR if you think that strategy as a whole could use some work. I'm open to suggestions.

Items such as population growth, crime rate, new housing starts, rent-to-price ratios, and business investment in the area are metrics that come to mind. Thank you for any responses!