Check statistical data on the specific city/neighborhood - FRED and other city/government websites publish the number of people coming into the city, population density and local news can tell what businesses are coming inHope this helps.

If you want warm spots, check San Diego for beaches, Charleston for charm, or Santa Fe for a unique experience.

Will definitely check them out.

I recommend you go ahead and hire a PM.Otherwise, you'll need an application, a way to do background/credit checks, a lease, and a way to manage finances and repair requests.

Easiest way is to just get on Airbnb and check your competitors.

3) Check out some of the local meetups that you can find in this forum!

I'll check into that along with a couple of other leads. 

Also if hands off out of state like mine, you will need an air conditioning contractor to check the AC every 6 months, aoubt $290 annually plus and parts after inspection, a property manager contract to fix the white goods or boilers etc. 

I have read RDPD and loved it, never checked out his cashflow quadrant book yet so I will be picking that up.

@Vasundhara Ranjani  Check out the OH market