rob, i truly wish i knew the top 5

. there is nothing more humbling than thinking you are on top of things and then bam...minor, mysterious stn/rtn for unforeseen reasons :mad2:.
i'd say in general, if you take a systemic approach and monitor your params weekly anyone can do it. the real issue is for how long you're willing to be a slave to your tank

. so my fav 5 would be:
1. keep water params in check (alk 8-10, ca 400-450, mg 1350-1400, sg .025-.026, temp 78-81, nitrate 0-5, phos .02)
2. feed your fish and reef (find that sweetspot that keeps your nitrate and phos reasonable without spawning nuisance algae).
3. good lighting and flow. both are very subjective and people get different results.
4. maintain all of your equipment (skimmers clean, bulbs clean, top of tank clean for max light penetration, test your failsafes, pumps/powerheads routinely cleaned, rotate carbon, filter socks, phosphate removers, ca reactor cleaned, co2 tank adequately filled, topoff/makeup water reading 0 TDS, water changes, all that boring stuff)
5. start off with only frags vs whole colonies and be willing to accept the fact that not every coral you acquire will survive...your DIP process for new aquisitions! and if you have to ask what should i be dipping for...you got some more readin in the sps forum to do

.
hth,
tim