Renovated the entire house from the basement to the attic which is now an enormous master suite with a bonus room.

If the numbers don't work I wouldn't bet on it to appreciate, it's just an added bonus if it does.  

Garage was converted to bonus area by previous owners, so we decided to add a his and her closet to make it a 4 bedroom.

Side note- getting your RE license and having full access would be a huge bonus- great investment to start your career. 

Again, offering an incentive such as a referral bonus or discount on their rent may give your current tenants the push to advertise for you. 

Either way, in my investments I dont worry as much for ARV, that's just an added bonus.

Thanks Oh, here's a "bonus" one for you.

Income is calculated on a year to date basis usually rather than a 2 year average unless your earning commission, bonuses, overtime, etc. 

Last year I adopted the Profit First System (Mike Michalowicz) and use the following accounts to manage my business: Operating Expense, Bonus money, Owners Compensation, Tax, and Vacancy/CAPX/Repairs.

Husband worked at Blizzard Entertainment for 15 years and I used his bonuses to build our investments.