Often smaller operators add things that should really be CapEx as an expense item to help their taxes.Make sure the items under expenses are true expenses and not to be capitalized.Is the owner self managing and paying themselves?

They usually pay better (depending on where they are) for that reason, but if your time is limited and you want to self-manage long-term is much more passive.2.

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesAlerts can be really helpful too: http://www.biggerpockets.com/alerts

I'm looking to transfer my IRA to another custodian that will allow me to invest in RE (not self-dealing).

I would be curious what they say in their defense. 

Moved from NYC a few years back to self manage.

Just been saving up and taking care of my self i will go take a look at that book ! 

I use "The Best Self Journal" - (bestself.co) and it has drastically changed the way I enter each day and evaluate my production.As a last resort, if you must go back home, devise a plan for yourself to be out within a few weeks or months. 

We have 2 loan scenarios: FHA with 3% interest rate and 3.5%($17,000) down BUT we have to claim $150k of income on our tax returns for 2 years and pay IRS 70K (2 years worth) total in taxes because we are self employed. 2nd scenario: private lender offering 4.5% interest rate with 5% ($27,000) down 8 year interest only loan converting to fixed thereafterwhats the wise choice?

You'll almost certainly have to self manage.