Educating urself is vital!

I know that in my area, they're a key part of the resale package and provide vital information on the legal formation of the association.

If your intent is to keep your position in equal standing to your mother in law for whatever reason, then this is a vital time to make sure that remains that way.

Good property management is vital.

Of course the specific numbers, property condition, and demographics of the deal are vital to evaluating it.  

The experience you have gained managing your first home will prove vital for your next rental.

Local knowledge can be vital, and vaguely similarly described comps can be very misleading when trying to establish what a particular property is REALLY worth.How much capital expenditure will be soon required in order to keep it habitable?

It is vitally important for a number of reasons.  

What i mean here is to know the essentials such as  where the water shutoff is, where the electric shut off is, where water pumps are and what kind of mechanics you have inside the building.Take note of the model numbers, year of manufacturer of certain vital equipment such as HVAC, water heaters and so on.

Creating a good reputation is vital before I work with investors...WOM travels fast in that community I believe.