People who are ready and willing to be a mentor look for enthusiastic, intelligent, and dependable people.

These artificially low rates, all they've achieved, is building another bubble in many U.S.

So you wonder if these guys are artificially pushing the market up and later if they decide maybe they paid too much if there will be a rebalance of values.

Also, to answer where I think we are in the cycle: I know this doesn't answer your question, but I feel like the market is artificially inflated due to the interest rates being so low. 

The global economies have such weakness this artificially elevates the dollar.

There is low rental inventory and rent is artificially high because condos dominate the market (only20% can be rented in a condo building).

Be eager to learn but listen with intelligent skepticism. 

Experience - always a plus - if you don't have it - have people on your team that do have it and can speak intelligently about the deal - contractor, agent, take out lender, mentor, etc.Exit Strategy - a clear exit strategy - if flipping - how long to complete repairs and relist, estimated time to contract/ days on market, plan if no offers at asking price. if a Refinance - who is the lender, have they done like transactions, have they looked at your full file or just approved you based on an initial conversation. 5+ units - how long does the asset need to be stabilized before refinance can be done?

For example maybe the issue is not that the landlord is keeping rents artificially low but that walking on the living room floor is like walking on a boat and there's significant functional obsolescence throughout the assetLandlords do often keep their rents artificially low, but if you were a lender you would agree that someone throwing good money away is also a little insane and potentially suspect.So these are just a few of the reasons that you and/or your lenders and investors are forced to value your target property on how the property is actually currently performing.On the other hand, as opposed to doing a single valuation you should be doing a full pro forma.

Find someone that will treat you like an intelligent adult, who doesn't put expiration dates on preapproval letters so that, again, you aren't feeling time-pressured to move before you're ready.