How do you approach a potential deal when dealing with a real estate agent? 

Beware some agents won't give time a day to this, some will. 

Wherever you're choosing to invest, connect with an agent and have them send you listings so you can get a feel for what is out there and what properties are selling for, both rehabbed and fixer-uppers.Do you have a job?

So I am waiting on the call right now,  a great sfr block 65k MLS list and it fell out of contract with the last buyer, so I had emailed the listing agent to let me  know if it goes back to Active, and I always do the emails with a header that says  OFFER for Property....etc..... because I was a busy Realtor and I know when the deal dies, you go in your inbox and look for that guy who emailed me weeks ago, I get more deals that way by the way.  

I started investing before I became an agent and was amazed at how many agents don't understand the numbers that an investor uses to analyze deals. 

If you convert your home prior and decide to rent or live else where in the interim, then decide to use FHA to qualify for a new primary you can use the rental income with out restrictions of the 100 mile rule and still qualify for FHA.Their (FHA) guidelines are rigid, but with proper planning you can adhere to the guidelines and accomplish your objectives while avoiding the unintended consequences of the rules.Best practice would probably be to wait a few months after moving till utilizing your FHA loan to obtain another property.FHA does have a max of 7 financed properties including the FHA insured property (6 rentals + 1 FHA primary) so it looks like you're riding up to your max with the current of 6 financed properties.

The agent is representing both of us.

First off, they are misusing the term "pocked listing" as to real estate terms, it's buzz, no big deal, but know a pocket listing is generally illegal by RE Commission regs, where an agent simply holds the listing contract and doesn't actively work it until they come across a potential buyer, they keep the listing in their pocket.I do not advise newbies to use a listing agent to buy, in a dual agency (which was misguided in that video) the listing agent represents the seller not the buyer.

This off time is where creativity is born.Our bodies were designed to adhere to this command.

To give some more information on my plan, I am in the beginning stages of contacting lawyers, agents, contractors, mortgage brokers, and hard money lender to build out my contact list.Simultaneously, I am beginning to develop systems for generating leads.I have been listening to the BP Podcast for the past year and it has been a tremendous help in driving my interest in REI.