From what I've been looking at I feel that properties that are mid tier for the market, rather than high end, can often appreciate very well as they are sought after by a large segment of the local population.

Join your local Real Estate Investors Association (REIA).

Welcome @Seth GordonI'll say this until I am blue in the face, but get involved in any local real estate groups you can.

It's good that Miguelli is working with a competent local agent who knows what they're doing, knows the local rules that apply to his situation as well as what is customary for the market, and has done this before. 

The market area for my local MLS is maybe 350k people but until the last few years there were not all that many rental listings and even now I don't think the sample size is large or broad enough to be useful for that.

It should say in there what the terms are for ending the lease in the case of month-to-month.Then check your state and local laws.

Soft currency, hard currency, it’s equivalents and commodities (natural resources)From there, For local economy cash flow (spending money where you live), you’ll probably get into real estate and local business cash flow activities and it’s deviations 

Lebanon and Lawrenceville, offering a mix of moderate appreciation and cash flow potential.Connecting with local agents or property managers in each area will give you a feel for neighborhoods and potential returns.

If you're new to new build construction (or construction in general), I would get a local Architect onboard to be your eyes and ears in taking on the project and helping to assemble your team.

Some properties require only cosmetic upgrades, while others may need extensive repairs to meet local codes and buyer expectations.