I would recommend checking their comps and repair values very closely.

You can get checks for it. 

I am a longtime landlord that has normally just rented my unit to individuals after I complete my normal background and credit checks. 

Check out the Midwest mate.Ohio, Michigan and Indiana.I'm bias toward Ohio but lot's of attention in our state last few years.Decent B class properties for sub $100,000Much success

I would definitely check it out from time to time. 

As for data, check out Census Bureau stats and local economic development websites—they're treasure troves.

I have systems that I like for everything else, so I don't care about applications, leases, background checks, etc.

It's funny... beginners read all the literature written about the housing market from 3 years ago and they say, 1% rule, lots of cash flow, but don't realize none of that works when the housing prices have doubled the last 2 years, as have interest rates.  

We got a reply pretty quick & brought the potential tenants over and let them check out the house.

I recommend a simple spreadsheet to check your math and it will make it simple to adjust each year.End the complaints.