I will find a way to add this into my model and hope I find some greener numbers.

We evaluate the after-repair value using a gross rent multiplier and a NOI/cap rate model. 

I've also got two models from A.CRE - the apartment value add model and the All-in-One model.

Honest feedback here - I hate the arbitrage model Why?

We were very calculating about our model and used a very conservative approach toward expenses.

Cap rates seem pretty low relative to mortgage interest rates.Has anyone seen this model work in this economic environment?

I agree with @Francis Faucher completely.Definitely not worth it to swap business models if one is working well, would be silly in most cases.A few investors and agents on my team in MA are operating in the syndication space putting investor capital to work with great returns even by today's market.

If you want to copy that sort of model, go be someone's assistant for a while, with a base wage that'll keep you from starving. 

I did not know that most DSCR lenders don't prefer a business model aimed towards student renters.

Modeling it in three scenarios, best case, worst case, and most likely.