Your health is your wealth my friend.

Yes, it sucks but we have our health and our desire to make things better.

The dust is the main health hazard.In my experience as bad as it sounds your first plan was the best, just put insulation over it and nail through it, Best to talk with your building codes office(maybe even call twice and make sure you get the same answer from two different people).

<RANT ON>In my main county of operation, between the health department and the treasure department, they hold the meth houses hostage.......in a quasi legal limbo.

I would check out the financial health of the HOA before I purchased anymore condos in the building/complex if I were you.

So here are my questions -- Beyond keeping an eye on some generally available historical metrics such as avg rental prices, days-on-market and months inventory, how does one gauge the short term future health of a rental market?

We do life and health. 

Assuming you are investing relatively nearby to the town on your BP profile, long term real estate appreciation will probably be quite heavily tied to the long term health of Houston's energy sector.

I'm going to start posting public health and real-estate advice merged together.

It takes a lot of effort, strength and commitment to do what is right for our financial health.