As there is no cashflow during this period this may not be an ideal scenario for everyone but we are all cash buyers building out a portfolio that will provide income to keep our current living standards once we retire from our day jobs in 5-10 years. 

That probably means sellers will more often rely on the X% that folks vaguely believe to be the industry standards. 

FHA does not have a clear definition in their guidelines, but most lenders have stability standards, depending on several factors (contract length, previous employment, etc).

You could let her know that you are too small to make reasonable accomodation if the stairs become an issue, but probably not worth it.As far as rent to income ratio, this is something you should set before you start taking applications, then stick to your standards. 

Our screening process is quite thorough, though definitely not as much as yours.When we receive an inquiry, we state our qualification standards.

On the flip side having 2 residences in one building does bring efficiencies from a management/ownership standpoint.Finally, the payment structure you mentioned (30-40% until project completion) is fairly standard for pre-construction properties.

@Sarah West The basic concept is that you take out a 1st position HELOC instead of a standard fixed rate 1st mortgage.

If the property has deferred maintenance and is not up to standards to be rented out, you won't be able to finance this on a DSCR loan.

There was never a "standard" commission. 

I know how stressful it can be with those gaps in monthly income.I personally use the standard Chicago Association of Realtors lease...do you have a copy of this by chance?