This is very common in Philly as there’s a lot of older homes and the city is working to gentrify certain neighborhoods.

One water meter is pretty common and you can include in the rent, charge tenants a flat water fee monthly, subdivide or do a RUBS most of the time, option 1-2 work for the smaller properties.

However, DSCR Loans should not be considered “no doc” loans–they do include a well-thought-out underwriting process and meaningful “common-sense” documentation requirements as well.

is there a particular formula that takes all manner of factors, (employment growth, corporation development news, barrier to entry, rental rates, wage growth, etc) into account and spits out an "invest in city X" answer?

It is very common for a PM to hire an experienced lawyer to handle the eviction process.

Is this a common thing most DSCR lenders can do? 

Running title on a Deed in Lui is to those of us that trade in the bizzness common knowledge but agree you take a mom and pop starting out..

However it could be location,  Common area, size, laundry, tenant qualifications (in rough areas you are not going to get many tenants with unblemished credit), parking, look of surrounding properties, etc.   

and "How can I employ a strategy to make this property work?"

Im self employed and my debt to income doesn't look good on paper.