Because you are literally guessing at market rent and the PM will…1) keep your application and denial process legal2) advertise, screen and place the new tenant faster and better3) probably save you more money than they cost you. 

Both of my units are unoccupied, which is what we wanted as they were under rented prior and with school ending I thought it would getting lots of rental applications.

This may slightly affect the types of financing options available, but if both applicants are well-qualified financially, you should still be able to secure competitive financing terms.

A drywall guy once told me that a quick way to calculate a whole house worth of work is to multiply the living sq footage by 3.5 then divide that by 48 sq ft ( 12 ft drywall ) and then multiply times per sheet cost.This is probably more applicable for new construction or full gut jobs.

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@Henry Clark, not exactly applicable to your start of this post but in response to this last reply, do you think its better to build still than to buy existing?

Your strategy may work attracting good tenants, but be careful disregarding applications or denying the property to qualify individuals that are protected class.

"the borrower is not using rental income from the applicable property to qualify" - does borrower here refer to the seller applying for a new loan or the buyer of the subto deal?

If you truly plan to live in the house as your primary residence, then you can put that down on your application.

., knows this is your intention and work with them to have the property transferred to the applicable Series in your Series LLC.