The commercial lender will evaluate your "investment property" by looking at the DCR ( debt coverage ratio) being at least 1.2 and ARV ( after repair value ) of between 70-80% depending on the lender.Using Brandon's BRRRR method, after property rehabbed and rented, thus stabilizing, many commercial lenders will refi using ARV...sometimes seasoning period is 6-12 months, but most times it takes 6 months to rehab anyway.Ask for VP of commercial department and run your scenario by them, and you might be surprised.

Do you know how to evaluate deals? 

You say they are positive cash flow, but really... if you add in the cost of repairs/maintenance you spent... they are negative cash flow...I'd evaluate the portfolio and keep properties that have the most appreciation potential and sell properties that aren't appreciating.

My question to the seasoned/experienced investors in this arena is this: Do you evaluate the purchase price like a traditional stick built home/apartment or another method.

It is not just about things happening- you need to evaluate what the value is of the property you are looking at. 

How should I go about evaluating whether or not this is a good deal? 

I am considering some of the programs that offer coaching at prices ranging from 10-30K but offer experienced people to help a newbie navigate the territory as well as evaluate the best communities and properties for success.

Lets do something, if for any unforeseen reason your property doesn't sell per the time stipulated in your listing agreement, please keep my number handy and I will be more than happy to revisit/evaluate your asking price.

It looks to me like you're looking at the right criteria for evaluating a market.

How do you go about evaluating a PM?