The majority have had substantial recent price decreases, which seems concerning for long-term property value appreciation.

We've created a concept called the Three Pillars of Real Estate® --> Market Cycle Debt & Exit Strategy.Once you learn how to use all there in conjunction, your risk decreases, and you start to build a real estate business.DM me and I will send you a copy of our book Creative Cash, which dives into the topic in detail.Gino

If you buy a second property at current interest rates you would always have the option of refinancing one or both properties at a future date if interest rates decrease which would increase your immediate cash flow.

I try to find out what expenses can be eliminated, decreased or offloaded to the tenant instead of just rely on rent hikes 

Bad snow (no snow or less snow than normal) = less bookings and lower rates due to decreased ski demand. 

As you pay down the principal the portion of your payment attributable to interest will decrease. 

What helped me learn real estate investing was just analyzing as many properties as possible to build the muscle. 

Practice regularly so your muscles are strong and fast.

When negotiating, did the renovation credits decrease your final purchase price and your monthly payment terms?

Quote from @Kevin Sobilo: I plan to find a couple of comparable properties with different zoning to demonstrate how zoning increases/decreases value.