. #1 how do I recognize a great deal and what are steps on finding deals.

I don't pay cash for my RE like he does, but did use his debt snowball to knock out $87k in consumer debt.Glad you recognize it's a problem @John Purcell. 

The previous owner had bought some no-name system that nobody recognized and it was hard to get parts for.The HVAC person told me it would be something like $2300 to fix it, but the type of Freon that system used was being phased out and no longer available in the next couple years (at that time).  

Coordinate with your accountant to ensure that no accidental gain is recognized.

Find out who your recognized local lenders are; BiggerPockets has a rundown and a host of podcasts on the subject.

Those who survived recognize the pitfalls, etc. 

Some you follow up on because you recognize the quality and you want the opportunity to meet and make a pitch otherwise, if they don’t meet my Req’s on the phone - why even bother inputting their data and following up long term?

I recognize, of course, that I could go with hard money, but that's not my FIRST choice. 

I still wish you spent more time on why he had to change strategies, how he recognized this.

I think it was from James Wise... please correct me if you recognize it and it’s someone else’s system.