I am currently in a school psychology Ph.D. program. I never considered the Masters/Specialist degree as an option, but there are a couple things I learned from those who are pursuing the Masters/Specialist degree in my program. First, it makes sense to obtain the degree in the state you hope to gain employment. You will learn a ton about education laws for the state you are getting your degree in, and you will network through your practicum placements. You can definitely obtain employment in a different state, but it just makes more sense to go to a program where you want to work. Also, some programs require you to complete a thesis for the Masters/Specialist degree. This can hold people up.
When looking for a doc program, I sought out those that were both APA and NASP accredited. As others have mentioned, a NASP accredited program is strongly encouraged.
To get an idea regarding how competitive a program is, you can find applicant data on the school's website and look at the GRE scores posted. Some programs are housed in the education department and some in the psychology department. Feel free to message me if you would like to chat further.