IMO - the key is knowing when the rock was shipped to the lfs, if it is curing or cured.
Questions to ask;
When did they receive it, and from where?
What type of live rock is it? Fiji, Marshall Island, Tonga, but even that is sometimes a misleading marketing pitch to just sell their rock.
Do they have a curing tank - or just load it in the "sales" display tank?
Ask if you can be there the next time they unload a shipment and watch. Some lfs will allow this if you know them well, and especially if you are planning a large purchase.
You really need to decide if you want cured or uncured.
I normally get cured live rock.
I look for interesting shapes, high porosity or lightness of each piece, different colors of coralline algae is always a plus, and price.
And smell it.
If it smells like the ocean then your good.
If it has a very fishy almost rotten smell, it's not cured yet.
Avoid any live rock you see that does not have a bright color appearance. Unless you plan to use it as base rock, it most likely has been sitting around at a lfs for a long while, without proper lighting, circulation and poor water quality.
It may have good bacteria growth, but it's junk.
You'll know this stuff when you see it - pass on it.