This is such a big topic, which really doesn't have simple answe

1. Depends. In term of reserving capital, I'll do business only. If certain retail business, obviously location has value.

2. IMO you could see a lot from 3-5 years of (tax-return based) financials, especially when you are familiar with industy.

3. Depends and very subjective. EBITDA x (2~5)

4. In some cases, not as difficult as many may think.

5. Too broad. Again you should begin with a question to yourself: what can I do, what do I want to do, what am I good at, what I would LOVE to do, what can I picture...