First time in the market for rental property

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Hi, I'm a complete newbie and interested in purchasing rental property for monthly cash flow. I've read books in the matter yet I still don't quite understand how do you valuate property whether it is a good investment or not? I understand you can check local advertisement to see what the rental properties are going for and meet with a real estate agent to brainstorm. And then there's the 1% rule (rent = 1% for property cost) Apart from these steps, what are the steps a pro does when they are in the market to buy rental property. My budget is $75,000 and would like to get at least two properties with this amount. I'm looking to buy two properties per year going forward.

Get a copy of the landlord tenant laws for the area / state your planning on investing in so you know what you need to do as a landlord .

Always usually more unexpected costs and if your out of state, you'll have management fees or plan on extra trips to your property...