I've owned a few investment properties over the years and lately have stumbled my way into private/HM lending using my self directed IRA as the source of funds.

Yes that is Jet Fuel do you have any sources?

I've heard some good things about this book from multiple sources.

My boss is the biggest R.E. investor in town and has given me every tool in his arsenal to locate, and bid and close the deal on the best properties in the area.

What is the biggest negative from a prospective tenant's point of view?

I have access to a lot of sources.

One of the biggest questions people have about investing in cash-flow properties is about investing at a long distance.

So even if it does go well at first, it may not always, and you're likley best off to have residual income from another source til you work out the bumps in the road.

Currently, we're pre-qualified with a lender to purchase investment properties.I believe the biggest lesson I have to learn is determining the cash flow potential of properties by comparing sales price and against gross rents - the 2% rule as I've read.

What you are wanting to do with it (your exit strategy) stipulates what formulas you need to use to determine what the house is worth to you and what your offer is.If you are planning on fixing up the property and reselling it on the retail market, then knowing what the After Repaired Value (ARV or what the house will sell for all fixed up) is and the estimated repairs are the two biggest factors in determining your offer.If you are renting, lease optioning, or carrying the note, knowing the fair market rent will be a huge factor in determining value.If you are wholesaling, knowing what investors will pay in that area for that type of house is essential to determine value.To figure an offer on a property, start at the end.