Other materials could be purchased ahead of time today.Read this thread ( https://www.biggerpockets.com/forums/67/topics/123738-stockpiling-supplies ). 

Its stuffed with all sorts of fascinating things, like racist old deed restrictions from the 20s, banks going bust, families dividing up big parcels of land (and what all the nearby roads are named after) .. 

Palo Alto had Stanford nearby which had the best radio engineering program in the country, and their graduates included Bill Hewlett and Dave Packard who were patient zero for the tech boom. 

@Pat Parrillo I would have a lot to learn as far as development but can see how it could make sense with the nearby jobs and land.  

But there is a world-class resort lake (Smith Mountain Lake, VA) nearby.

Just go into realtor.com and do a search on houses nearby that have more than one unit, which means that you have to un-check the default boxes that come up ...

My rent currently is $50 lower than the nearby competition and the unit has just been redone a year ago and it has a driveway for free parking like most in the area do not.

Actually a $1,000,000 mansion nearby.

So short of living nearby, driving through and make your own assessment what are some data points do you use?

It's management intensive unless you live nearby or hire it out and pay for it.