.- Zillow trend shows appreciation close to inflation, very slow.- Built in 1960's, so might be hidden repairs.

or if this trend would continue? 

You should look for conservative assumptions in the underwriting model, especially because of the long trend of declining cap rates / rising prices.3) The Financing - is there financing in place for the duration of the business plan, are there penalties for refinancing (this is one exit strategy), are the projected rates realistic?

I am not sure what the population trends are for Mason City, but from brief readings I have done, people are leaving small towns for cities, so that could mean Mason City has a small growing population.Lastly, if this is your first investment, I would recommend investing locally first, rather than out of state.

seems that these "deliver in a box" foam mattress' are the trend these days but I go back and forth.  

Lacking direction from historical operating trends, after figuring out what is separately metered and who is responsible for what utility, I would then use a combination of common sense and reaching out to a local expert to underwrite each applicable utility.

yeah... follow the big trend and mostly invest in stocks, not bonds (I'm in the late 30's and I still do invest in stocks 100%, not bonds).  

I am very interested in learning property trends in Long Island.

@Laura Hunt Just know that is the hottest price point in the Dallas market (second hottest is $200-250K).

Unfortunately this is the new trend in reporting.