When I'm practicing underwriting, I'm finding a property that looks interesting, trying to find out median rates in the area and do some math to get to the NOI then divide by 6% and come up with some sort of value.

I don't think it's worth it to me in the long run from past mistakes and I'm going to stick to my standards.

Not only is the demands of each buyer going to vary by market and submarket, but also asset by asset.My favorite example of this was an old season of Flip or Flip, where they bought a house in LA county, versus their standard stomping grounds of Orange County.  

I'm looking for any / all advice for best practices around how and when to inform tenants about the rental increase/request to vacate.

So I think you should try and sell it the way it is.I will say after much study and chatting with a dozen lender, no one will lend more than comps show on a working STR vs a standard home.So list the house as a house and then work out a deal on the furnishings etc.

Especially with high interest rates Hey Olu, It's definately hard to make properties pencil from day 1 but my reccomendation would be to practice practive practice underwriting deals to know a deal when you find one.

Definitely encourage you to practice analyzing a few properties using the “Deal Finder” at the top of your screen, and the Calculators (Under “Analyze Deals). 

In my area you dont apply as  "Landlord" once you have a section 8 tennat application they inspect your specific property to make sure it meets there standards. 

If the rents are equal to that or greater its fits under a standard DSCR 1 to 1 ratio or 1.00%.Example $280K purchase 20% down $224K loan at 6.99% $1,488.77 P&I.

I can get coverage through Texas Windstorm Insurance Association (TWIA), but they would not insure without a new roof that meets their standards.