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...