I also crawl some of the listing sites, market reporting companies like NAR, and economic and demographic data in the North East. 

Maintenance is key, and you don’t want tenants doing anything other than changing a light bulb or smoke det battery, which they don’t even do.

For example, in MN there is a form of agency agreement, 100% allowed by NAR and the state, where you can make a set price with the seller as a guaranteed net to seller, or guaranteed gross sale price to seller, and ANYTHING you can get above and beyond that, you can keep as a commission.

The NAR and the NAA are amongst the most powerful lobbyist in Washington and it is well known how much of the GDP depends on the housing market, new construction etc - they know that.

I was reading from the NAR website about a bill they are endorsing. 

Is there any standard for how areas are classified i.e. does the NAR have a standard classification system that uses specific data points?

This is particularly true if you are required to be a member of NAR (and other RE organizations such as NARPM) and subject to their Code of Ethics.

Each year you will have to pay for access to the MLS, NAR, plus and local fees and broker monthly fees which will cost at minimum $1500/year.

Wainwright Realty is the only agency I know of that is not a member of the NAR. 

Even more so if you are now a member of NAR or the State RE Association, as you will have a very extensive Code of Ethics to adhere to...24/7/365.