I noticed when looking up the property tax info that the evaluation has gone done over the last 3 years.

At the end of the day, it is a judgement call depending on the particular facts and circumstances of the situation.I believe that 2 flip transactions per year would expose an IRA or 401k to UBTI taxation and we would advise our clients intending to flip houses with such frequency to consult with their tax attorney and/or CPA in order to evaluate the potential impact of such taxation on their investment strategy.DisclaimerPlease keep in mind that I am not personally a licensed tax advisor and the following should not be taken as tax advice.At Safeguard Advisors, we have a continual dialog with our tax attorney/CPA on matters of taxation and are well versed in the application of the code to self directed IRA & 401k plans.

Grew up in poor logging community in MT.  

They can essentially lend to whomever, and however, they want.That's not to say they don't have underwriting guidelines - but they do have more flexibility and can use a little more common sense in evaluating the big picture.

I found a 6 unit property that I am interested in looking into and I know 5+ unit properties are valued based on their income and not so much on other comps.  What do those numbers look like?  Is there a formula that ...

Again, for those tenants with smartphones, it can & will reduce some of the phone calls, as they can submit a repair to you (and eliminate the initial logging of the issue on your part, at least).

Cash Flow Market Value Stability Appreciation A Combination of these oCash Flow and Appreciation have an inverse effect oMarket Stability will provide Predictable Results, but Values & Rents remain flat.A few Questions to consider: Is your evaluation standard Repeatable (i.e. 10-12% CAP Rate: Can you continue to find properties which meet this criteria?)

But it gave me a lot of time to evaluate other deals and I think by the time I saw this I was ready to spring.

Evaluate it as such. 

I don't do it to purposely lose money.As far as "do I invest for a percentage of the flip" - since it's my own money, I have the flexibility of evaluating each deal on its own merits, and drawing my own conclusions.