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?

Feel free to reach out for specific area market data / trends or a price opinion.

Fast forward, yesterday with A LOT of notice our hired realtor showed up at the house to get a key from my tenant for showings.  

Study the landlord tenant laws in the community you are buying and see how much notice you have to give your tenants before nonrenewal or look at cash for keys.

The first is turn key ready with a small amount of yardwork needed in a decent quiet location next to a park.

We have a pro membership, created a spreadsheet to learn the key metrics, have adequate resources and high credit score.