feasibility study for rental property

[Dave Klemarczyk]

My wife and I are looking at an REO 2-family property in New Hampshire. It seems like the numbers could work for positive cash flow and following the 70% rule, but I'm not sure if the town that the property to rent in is a strong candidate to own the property.
I'm wondering what steps I could take to ensure that this is a good area to rent in. It's only 20 minutes away from where I have lived my whole life so I know that the town itself doesn't have many attractions, and the schools aren't great, but the property is also just a couple of minutes from the highway and 20 minutes to the nearby city. I believe that it is a good bedroom community.
I've thought of looking up other properties for rent in town and asking them how long they have vacancies, but am not sure if that is a good approach (too straight-forward?).

Your input is appreciated.

Thanks,
Dave