The only thing Id add is to maybe adjust your expectations.

If your asking amount is too high for a particular applicant, the Housing Authority may ask if you would be willing to adjust your rent to fall within the required numbers for that applicant. 

It's all about speed in this market. 

You may consider hiring a public adjuster.

I’ll adjust accordingly.

I also do buy and hold some on my own and in a second partnership, structured similarly.One thing that helped also is that as we started to scale up a little through the first round of refinancing, we shifted to 100% of cash input from my partner and 0% from me to adjust the balance a little.

Basically, looking to see what the adjusted cost basis should be for this property.

You could calculate the payment on a 30 year fixed, or appropriate adjustable term, even interest-only payment, to compare and make the total portfolio work if you find the right property. 

The number is adjusted for closing costs, and you also have to pay taxes on depreciation previously taken, aka depreciation recapture, but these factors are not affected by financing, either.

Has the new ordinance impacted you, or have you adjusted your purchasing strategy to comply with it?