We only buy properties that they know will rent well for an extended period and have low maintenance costs. 

As of now, there is a 1400 permit "freeze" which expires next year, but could well be extended. 

Should I try to get pre approved for the largest loan amount available (and I'm comfortable without being over-extended)?

If I cannot find 3-5 I will extend the filter to include 6 months of sales before I go further than .5miRemember that a comp should have a similar style (don't compare ranches with 2 stories), similar construction (brick vs siding etc), and similar age (+-10 years if possible)

If there is any, it will often trail the inflation rate....and they often can be depreciating assets.You want to look at if there is a history of the land lease being extended when the lease is nearing it's end. 

This year I am doing 3, but extending the closing on the 3rd past Jan 1 for tax management.

One of the reasons I ask is because my current agreement is coming to an end, but he will sign another agreement extending it.

For example, do you first ask if they want to extend for a year or do you say the rents going up $20 / month (or whatever it is)?

Once you have a track record the private money will come from your extended circle and people you meet at your local REIA meetings.  

We try to get 9 months with an ability to extend.