Yes, I believe the market gives you hints like case-shiller index top 20 largest metro markets, interest rate/Fed, median home prices, sales monthly/YoY, jobs report, economy, housing starts, stock market, etc.However, your signs are not the most logical.

(hint: I lived in the buildings for/after first year of purchase) 

We got hit so bad in the last recession that we are just waiting for the bottom to drop out every time there is a hint of something unstable? 

This also hints that there are two easy ways to fix this double counting.

Hint : that is much higher than 3%

Any advice, tips and hints are incredibly appreciated.

(hint: I think they are wrong)Finding an area that makes sense for an out of state or out of market person to own a rental inDealing with the complexity of financing for both hard money & otherwiseSetting up 3rd party property managementAnalysis of the dealMaking the offer on the MLSThe people considering buying turn-key or Roofstock homes will find this diary extremely valuable.

What are some basics to consider in this and any hint/tips/links for more resources to look into or podcasts on this?

I have never owned property and honestly not very many people I know even hint at real estate as an investment, and many of my friends and family buy one home and live in it for years, so they don't have much experience with it.

But its so easily replicated that if you even hint of what it is someone will steal your idea.