how do you evaluate deals? 

The items below are static questions we use to evaluate all of rental properties.   1.

(It is possible to split them).Evaluate the expensive things for the property.. the roof, AC, septic if it has that... will they need to be replaced soon?  

@Jerry ChetrancoloThe chances of a principal loss depends on a few factors that matter less about how much you need to lend and more about HOW/WHO you lend to -- how well you evaluated the project, property and borrower.

It is important to evaluate the individual that heads the investor group.  2.

Just moving forward how are you evaluating locations and determining if they are A, B , C or D grade areas?

Evaluating other markets, though, I would not personally look at CO and Nevada, but would rather want to participate in the healthy appreciation of my home state, or get some geographic "plus points" of milder winters (CO) and strong economies (NV).Be well, and have fun!

Which is fine if you evaluate the deal as such... factor risk into your numbers.  

There is high speed internet available, and its 4 minutes to the major highway and local supermarkets.I am trying to evaluate the feasibility/profitability of this project.

The first step in buying real estate is evaluating the market.