Each year I'm replacing carpet, buying washers, replacing hot water tanks, repairing the porch, etc.

They don’t work for rentals because in many states you aren’t allowed to take days or weeks to fix problems like no ac or no hot water.

Still have to account for roof, hvac, appliances, hot water heaters, bath remodel, kitchen remodel, siding, etc.

Are you hot or cold on brrrr deals right now? 

Do you have any advice on any website or sources or any strategy I can use in order to see if a certain area is a hot spot for renters?

I am ready to purchase another rental property (my second) but like so many am in a very hot market.

You have to disclose that it won't be owner occupied but it's still conventional financing subject to fannie/freddie underwriting requirements (like a decent DTI)-- you'll pay a little more than you will for an owner occupied property but it still the cheapest financing for a non-owner occupied investment property (I thought these usually aren't callable loans if you haven't done something fraudulent).

Also, look into the subject-to strategy and lease options.

The market is definitely as hot as it gets and a listing with no offers would generally translate to a price decrease.However, you need to take into account that news reports and experiences regarding the market in general, don't necessarily mean that the same is true in your specific market.  

April 2020 was the first full month of the pandemic, so the 37% increase in closed sales last month is a tell-tale sign that metro Austin’s housing market will continue to be hot for the foreseeable future.The median home sales price for metro Austin was a record-high $460,000 in April, a 42% year-over-year increase and $35,000 jump from March.Total sales volume for the metro was $2.07 billion in April, a 96% year-over-year increase.