I know quotes are cheesy, but I'm sharing this anyways:“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.

The process of sending the money soldiers out and have them return is the fastest, strongest way to build rapport.The 1st few deals i did borrowing from private person was givng them extra collateral by cross collateralizing existing property and presenting a deal that had alot of equity.  

I assume these should count as passive income and hence schedule E, right?

I think you get state or local reports for between $30-50 and it might help you make up your mind.You also can just manually search listings, count reviews and guesstimate occupancy.

There are some crossing that still need figuring out that are going to slow down development.

I cross reference everything that was stated to me on the initial phone screen to what I uncover in my investigation into their history and background.

Best way is to obtain authorizations for release of credit, tax returns, assets and liabilities, then send copies or get several originals to use, mail them  and obtain information directly from the source, this cuts out the chance of fraudulent statements.You also need to underwrite the type of business, what hazards are present, toxics, fire, insurance coverage, competition with other tenants, traffic counts, environmental laws applicable to them as well as your infrastructure being sufficient for tha use.....electrical, plumbing, traps, fire codes, etc. 

The best approach for finding comparables to: 1.find 3 that bracket the subject's value contributing factors (GLA, room count, amenities, etc), 2.

You can have easements to allow one to cross the other's property but no overlap of ownership. 

As with anything else, any time I need a new policy I cross check the competition to make sure its a decent price.