Are you talking to people to look for an off-market deal, or are you working with agents/brokers in the area? 

My broker handled waaaay more than a normal broker ever normally does.

I would also include real estate broker fees for renting out the unit if you are not doing this yourself.  

A reputable broker in the area had explained to me that balloon payments are pretty rare.

Brokers just say “here is another guy wallpapering the city with offers”.  

I was residential loan officer/mortgage broker from 2000 to 2008 and a Realtor since 1993.  2008 and the next few years were difficult times to be in real estate finance so I jumped to bank owned sales during this time, so I have both perspectives.Both as an LO/mortgage broker and real estate agent I would regularly have banks/lenders ask for a comp-based appraisal and a rental survey on 2-4 units properties; which is Fannie Mae Form 1025/Freddie Mac Form 72. 

Any broker here from Waco area who can help me analyze a deal?

I just closed on a primary residence loan with a broker who got me a loan from Quicken Loans for 5% down. 

I also have my broker's license and would like to work as a broker to help others find/sell homes as well as to find new properties for myself.

I'd run this by your broker to make sure you're not breaking any office rules, but I am also licensed in CO and see no issue with it.