REIT Selection PT 1

Well, lets see what I can come up with before reading the REIT guide that I found. So, how do I pick what a good investment will be? Well, it's got to provide a good sustainable return. I guess that breaks things down into two main points, sustainability and return. I don't decide what to buy based of geographical and sector concentrations, but that might weigh in on how much I buy.
What can harm sustainability? From what I've seen REITs are always issuing new units, so dilution is a factor. Then there's how well properties are maintained and whether or not there's new ones in the works. So I guess acquisitions is another thing that I would look at. Another thing that hurts sustainability is that some REITs seem preoccupied with paying out a certain rate. While they're obligated to pay out a certain amount of taxable revenues to unit holders, nothing prohibits them from paying out more. So pay out ratio is another big one. I guess if something is sustainable, it's probably also growing. If it were unsustainable, it would be shrinking and hitting the exact point where it isn't doing either sounds like something that's unlikely to occur.
I suppose value is best summarized in some variation of PEG ratios. They tend to use some slightly different terminology when talking about REITs.
So bit of a summary:
Sustainability and growth
-units issued
-recent acquisitions
-payout ratio
Value
-PEGish thing
Now to read the guide and see if I can refine my ideas further and possibly come up with a comparison table It's a bit of a long document.
Also note, while typing on this laptop, part of me wonders how much smaller the keyboard can get before I have to learn to type again. That shouldn't be much of a concern for someone who can do like 30WPM on a graphing calculator, but relearning typing is an inconvenience. My old machines should probably hold out till there's more competition in the sub notebook market and I can find something that'll suit my style. Hopefully there won't be so much of a trade off too.