The document discusses key characteristics to consider when selecting hardware for IoT projects, including data acquisition and control, data processing and storage, connectivity, and power management. It provides examples of microcontroller development boards like Arduino Uno and ESP8266-01, and single board computers like Raspberry Pi 4 and BeagleBone Black. The document advises determining requirements for sensors, output components, data protocols, and networking before selecting a microcontroller or single board computer as the core device. Security, ease of development, and other factors should also be considered.