.)- analyzing deals (preferably comparing 2 or more deals)There are so many threads here, so maybe this can help me get to some specific links or info a bit faster.

A US real estate crash is still small potatoes compared to the currency instability in much of the rest of the world. 

If I find a house I'll look a few blocks in either direction at the house prices, compare like houses together 2/1 to another 2/1 house or 3/1 to another 3/1 house and where the price is at to see if I rehab and refinanced where it would sit.I of course also look using google earth to see the neighborhood as I will end up buying out of area, i'll contact PM companies first see local rents and see if they know if any good contractors for x/x/x and see if it's worth going into the area.I have to learn about "what can be written off if a house is purchased rehabbed inside an LLC"

It started off as a traditional deal where I would get financing from Freddie Mac.  

After this first purchase we're looking at making a bigger purchase towards the end of the year, or early next year on something that can offer more cash flow.We were initally looking at the Killeen area due to the low amount of cash needed up front, but if we could find comperable properties in the Austin or other areas near us that we're familiar with then we're certianly open to those as well.I'm meeting with an aquaintance next week who works with mortgage investors, so if I can get a better rate than what we've found from traditional refinances we may look at pulling a little more cash out.

If it's 15 years old, not so much.The rental comps will tell you what gross income to expect as long as you compare it to nearby similar properties in the same condition.Having said that, there's no absolute guarantee.

You stated that the seller would lose money if he sold traditionally so you are offering a valuable alternative here.

And with the new tax laws benefiting real estate investors, the comparable return is even higher.

Current rent seems to be a fair market price given the condition of the propertythe county appraisal value is significantly low compared to asking price (asking price is about 4 times).

For my lender the draws are set up initially, then you call when you are ready for a draw, we send an inspector out that compares your SOW and the work done.