We don't have a time in the day for the extensive learning in the new subject so we either learn through our mistakes (expensive, can bury a novice) or put an effort and find a mentor who can help us along the way (not easy, but pays off big time).

I highly recommend you read a book on the subject before delving in.You would typically include utilities.

They were seriously considering an 5 year owner carry/subject-to that I had offered.

Contact me by email with Bigger Pockets Forum in the subject  

One of the things I have started doing is looking for the types of chain restaurants that my ideal tenant will want to frequent as they will have already done the market research for me.

You may be subject to additional laws depending on where the property is located. 

Such as in a subject to or quit claim deed scenario.

Interesting subject.

And if they start to rise, that frequently creates more demand as people who have been thinking about buying decide "It's now or never." 

I get a loan based on the appraisal of the property subject to the work that will be completed.