For rentals, you just need to find out if it's in a decent area, what the cashflow will be, and what the economy around it is like - is it diverse or is it dominated by only one industry?

You've also done the research already and know the numbers first-hand.Bad: Less diversity in your portfolio.

For selecting you market, you may also want to look at population / job growth and major employer diversity.

Our economy has become much more diverse and oil is not even close to the top driver. 

But having the availability of a diverse capital stack can mean the difference between making a deal happen and not.

The CT market allows you to do a lot of things because of how diverse it is.

@Christopher Olsen Make a spreadsheet of the MSA trends over the past 10 years like: vacancy, job growth, population growth, job diversity, supply & demand, taxes. 

--https://www.latimes.com/business/story/2020-03-08/oil-price-war-Oklahoma shale producers break even at $21 to $48 per barrel (i would think its closer to $40 in Oklahoma) -https://oilprice.com/Energy/Energy-General/Why-The-Oklahoma-Shale-Boom-Isnt-Taking-Off.html-Oklahomas state budget is made counting on oil selling for $54 per barrel it is currently at $31 per barrel and dropping - https://kfor.com/news/local/dark-clouds-could-be-on-states-horizon-as-oil-prices-drop-to-30-year-low/-While oklahoma's economy is very diverse it will be hit if prices do not rebound in the near future - https://oklahoman.com/article/5627150/state-chamber-provides-new-analysis-on-oil-gas-industrys-impact-on-oklahomas-economy-and-tax-revenues-Oil and Gas would fall under mining and make up 22% of the GDP for oklahoma see page 11 - https://www.ok.gov/oesc/documents/lmiEconIndPub.pdfThe Good The Bad and The Ugly -Good - oil and gas prices may come up if Russia gives in on this play. 

Urban areas with diverse economies would have stable demand since travellers would prioritize holidays, events (weddings, graduations, etc), and family visits.

We're pretty quickly turning into Brazil, and not just because 'diversity is our strength' but also in the overall acceptance of wealth inequality.