I'm trying to use the rental calculator to crunch numbers on the property to really measure expectations and see what the best case scenario is.

That really stinks that you were trying to get things done right and it resulted in them being more stringent. 

The REITs will give you a measure or liquidity, albeit with a certain penalty.

I measure equity, total rent revenue (and average rent per tenant) and annual acquisition in dollars.

Then it looks like the government in it's infinite wisdom, has restricted landlords from imposing the 2-person rule altogether in all cases, as a measure to stop landlords from making different rules for different applicants, instead of just finding the particular landlords in violation of fair housing laws and fining them.

You are right, I have started taking measures to let the tenant know if her increased portion of the rent is not received , then we will have to start taking measures.

The tenant was wholly unaware of the situation.We had to take out the cabinets, replace the subfloor, in part, and I replaced the dishwasher for good measure.

They have laser measures that can tell how much a house has dropped, if any.

I come with a tape measure, my repair price list (I’m a contractor so it helps), and a copy of at least 5 comps (preferably 1 in a state of disrepair, 1 in fair but outdated condition, and 1 fully remodeled).

If you don't qualify for the more stringent bank financing, there's a whole tier of lenders out there that do no income verification, little reserves required with just 25% down.