I wouldn’t give them the keys until you’ve received all rent/deposits, you’ve received proof of renters insurance, and you’ve verified they put the utilities in their names.

You should know about local trends, events, concerts, super-bowls, etc. that will be taking place in and around your market.

@John ThomsonMetrics you could look at may include you markets vacancy rate, DOM’s, and market trends with rent increase or declines.

Finding properties on good streets in areas close to restaurants, retail and shopping, where you'll attract quality tenants is key.

Right now All of my real estate investments focus on investing in turn key properties and becoming a limited partner in syndications.

I completely agree: Running an ad does not place your property "in Service", which is the key point in time at which you can begin expensing your renovations rather than capitalizing them.In order to be "In Service", the house must be habitable.

Development trends in an area always start with road development i.e expanding lanes or putting in new roads, then comes the housing, then comes shopping centers then comes medical facilities...urban sprawl.

The agent value comes in analyzing the value, neighborhood trend/knowledge, how to read/research the seller as to motivation, protective and trap clauses in the wording of the contract, which lenders actually perform, which title companies to avoid, which inspectors to use/avoid, how to negotiate when problems occur prior to closing, etc, etc.....all of which You you are not experienced/competent in.So, You decide.

It's like a blackhole - once it's starts it's nearly impossible for these places to reverse the trends - a few places in KS have gotten better - Dodge City, Garden City, Hays - they hang on and are relatively "progressive" (I use that term loosely) compared to their other rural neighboring cities) and have found a way to survive and somewhat thrive in today's society.  

What are some of the key factors to know and understand?