I've been looking at this as well and I also have very little idea what I'm doing. I found a spreadsheet on Bigger Pockets that helps evaluate properties as rental investments by plugging in some numbers. Apart from that, I just have some alerts set up on Redfin and a general idea of what parts of my city would probably attract good tenants.
But I've seen enough stories about nightmare situations that I'd rather cover all my bases before jumping in.
But I've seen enough stories about nightmare situations that I'd rather cover all my bases before jumping in.