We had to enter in holding costs, holding time (time value of the money), ARVs, rehab costs, a contingency reserve (a little extra to cover unforseen stuff), a reasonable profit margin, etc to get to a "Strike Price" as we call it.

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

Just guessing the numbers.If we put down $400,000 together with an interest rate of 7% (it could be higher), then im guessing the monthly mortgage with insurance and tax would be around $3,886.If each unit rents for $1,500/month: Total Monthly Rental Income: 1 , 500 × 4 = 1,500×4=6,000 Monthly Expenses: Mortgage (PITI): $3,886 Maintenance/Repairs: $500 Property Management: $600 (10% of rent) Vacancy Reserve: $300 (5% of rent) Total Monthly Expenses: 3,886+500 + 600 +300 = $5,286 Monthly Cash Flow: 6,000−5,286 = $714We split the profit in half so each person takes $357 a month..How much should we be profiting from this in order to make it attractive to jump in? 

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The pace report is reporting reservations as of this date, versus as of this date in 2024.  

Then keep $30,000 in reserves in a hysa for emergencies.

@Rickey Mayes even if you buy a condo as a primary residence, alot of them will require 25% down if they do not have reserves and meet full review requirements.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Renting to Section 8 Long-Term TenantPurchase Price = $237,000Renovation Cost =$8,950Appraised Value = $310,000Monthly Rental To Section 8 Tenant = $3,215Monthly Mortgage Payment = $1,890Monthly Reserve for Maintenance and CapEx = $200Monthly Cash-flow = $1,125Another investment property was closed and added to my rental portfolio.

You cannot just raise rents 50% Not sure what your cash reserves are or if you are planning to 1031 or something along those lines but I would rather see you keep cash in your pocket and apply it to a rehab that involves addition or updating kitchen/bath so you can see sizable jump in ARV and rent increases.