I'm wondering about the collective sentiment on market trends, housing appreciation, and strategy.If you were in my position, and wanted to invest solely in rentals, would you sit-out the market for a few years or jump-in? 

This will ensure the system is kept in good shape and it will give you an extra opportunity to eyeball the property to make sure your tenants are taking care of the unit.

Chimney repairs could be more expensive than upgrading the furnace, so if in poor shape you may want to abandon the chimney and go high efficiency.  

This wouldn't happen to be the spherical (ball) shaped house right on 3rd street, would it?

Market trends?  

Expect to get a pig with lip stick on it, not replacement of all major components, expect to over pay for it, expect much higher tenant vacancy rates than they quote, expect much higher repairs, replacements, and turnover costs/damages than any projections will show, expect no appreciation.....see a trend?

What are KPI's we should be looking at and trending to track local markets?

I'd also recommend a walk through by someone (inspector or other trusted party) because there is the slim possibility that your properties are not in the shape you assume they are in.

Where I'm investing is far enough away that it wouldn't get damaged from the blast (although obviously the area's economy would be in bad shape).Anyway, I wouldn't let this prevent you from investing.

Any sort of disturbance, like sanding paint or sawing fiberboard that contains asbestos, will release the fibers into the air in your home.If the asbestos product is in good shape, or used in an out-of-the-way area -- for example, as insulation for heating or plumbing pipes in your crawlspace or attic -- you may be better off leaving the asbestos in place.Source: http://home.howstuffworks.com/home-improvement/hou...