@Ean BassThat does indeed look like a good deal from the description.

Let's continue reading:...Notwithstanding the preceding sentence, any tax (not described in the first sentence of this subsection) which is paid or accrued by the taxpayer in connection with an acquisition or disposition of property shall be treated as part of the cost of the acquired property...Don't you think that this is the description of the initial rehab on a rental?

Do I need to hire a designer to get a "rough draft" for the banks to see or do they just need numbers along with a detailed description on what it is and the cost of it? 

Is the ad description lacking...does it include enough detail?

It's defined by all the lenders in their descriptions of the program.

I had included a brief description of assumptions with the post, for some reason it does not show.

Based on your description of having done two flips already and planning more, it sounds like Sch C for you.

Maybe this clearer (PC) description helps with publically aligning renters and LLs as two parts of a whole versus the almost always portrayed antagonistic relationship. 

They have a nice description.

Only a knowledgeable individual of that specific area could know that.So, to my point, instead of screaming and moaning, simply pull valid comps with photos and full descriptions of what the comp has in comparison to the subject property.