You cannot normally count the rent as income on a mortgage for two years.I do give you credit for thinking a lot of this out though!

Yes, you need a track record to get your short term rentals to count.

The Memphis market is super strong for cash flow but you can not count on appreciation like in Nashville.

Things that make you go hmmm.Spend a few hours trying to explain a lease option to a seller, then the seller gets a call from me (or 3 dozen other investors chasing that same deal) offering a pile of cash and see which deal they take.Now, I have done 2, count them, 1. 2. straight options and they were both very profitable.

Count the exterior as a separate unit.

.), and plenty of knowledge of Excel (I've written VBA overlays for Excel that counted thousands of code lines).

If the unit count is wrong, they might let you know so you can adjust your offer rather than just throwing it in the trash.

Why should appraisers take cost, or rental income, into account - when it's only market value that counts? 

., which would give me an advantage before other investors can snatch it up, and it would be my first home I've ever purchased, if that counts for anything.

(After all, it has been three months and the market is red hot and appreciating, and they are owed $200k and counting on the mortgage!).