It's very similar to the Fannie Mae Homestyle program you discuss.

I've narrowed down the best return for my money in this market to a 2 bed/2 bath (with top tier amenities) - about 500 total 2/2 listings.I'm finding myself a bit stuck when analyzing why certain properties are making so much higher than the average listings when they seem to have very similar locations, amenities, style, flow of home, beds/# of people they sleep, reviews, number of reviews, etc.

I’m in a similar situation as most people on here.

Such as Accounting fees, home office, business liability insurance, and similar.

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.

I‘ve used Hershey Federal Credit Union for similar sized MFs I have in Harrisburg and Carlisle, PA.  

If they're evaluating other properties and you have a good social presence that gives them peace of mind and a good sense that they'll have a nice living experience, that could be the tipping point if they're considering a similar property. 

Has anyone used a similar setup?

If you want some revenue numbers for similar properties to the ones you're looking at or anything to use in underwriting feel free to reach out. 

Within each of these loan types and structures, you'll find commonalities and similar bases, but only conforming and govvy loans will have the exact same rulesets universally.