The additional money to renovate to rent again comes out of your pocket.If you try the appreciation play as justification in 10 years that doesn't work either.You lose $12,500 on every tenant turnover from renovation.

Unfortunate that it does end up punishing legitimate people with legitimate business expenses as they're looking to expand.If I paid to run a yellow letter campaign in a new market and never closed a deal, I can't think of any justification for that not being a current expense.  

The second call, we discuss the offer and our justification.

I would look for the justification and then maybe renegotiate.

It's not a cheap project, and if they leave you with the bill, you might have justification to negotiate on the price.

I know there is a provision for condos would that stem into multi-family also or just if it has a condo Corp?

When you become the owner of a property, you are then entitled to the fruits of the land, these pricing limitations fade away and your price is determined by the market.This is too long already, sorry, I'll contribute to justified values later on, but those justifications have little to do with your personal involvement.As to the above transactions, it appears the buyer made additional concessions, no rent, low rents, I assume cleaning up the place, these are things above and beyond simply facilitating a transaction and that carries value.

And, a justification for adjusting FMRs by a PHA to HUD, as showing a significant population is having to pay more for qualified properties.

You could leave sooner under extenuating circumstances.Here is an excerpt from HUD regarding income requirements:"When either or both of the permissible ratios of 31%/43% is/are exceeded, the lender is required to provide justification, in the "Remarks" section of the Loan Transmittal (HUD 92900.LT), as to why they believe the mortgage presents an acceptable risk."

And for me it went from a maybe yes (if there were excellent justification) to a definite no.