-The single-family median price declined 2.1% to $327,000.

Let’s look at Indianapolis IN; https://www.redfin.com/city/9170/IN/Indianapolis/housing-market for a median price of $250K That's the range you want to start out in, as a beginner.Then we assume 35% of ARV (After Repair Value) to do the rehab, holding costs, sales costs and profit.

You reference is flawed: “The price-to-rent ratio compares the median home price and the median annual rent in a given area.

Keep it near median price, use fixed-rate debt if possible, lean on conservative leverage, and line up professional property management.

Median residential home prices slipped from about $489K in August to $475K in September, and homes are sitting a bit longer—around 29 days on average.

It's not even so much population growth than it is household formations.

You can quickly find an anchor point to gauge in any metro area: look up the median price.

@Chris Mclaughlin  Nationally HUD determines the "Fair Market Rent", which is the Median rent and is broken down by either zip code or for the whole county. 

Prices are still affordable (median under $290K statewide), and rental demand in markets like Birmingham and Huntsville remains strong.Seems like there’s a window here for value-add investors who can move fast and manage rehabs.Anyone here actively investing in distressed deals in Alabama?

To see how long it typically takes to fill a vacancy in your area, I recommend pulling rent comps to see the median and average market time.