I'd stated the occupancy limit on the property is 4 adults and was a bit unprepared when he filled out the application with 6 total people (himself, wife, and 4 kids).

Hi Robin,Thank you for your post as this is directly applicable to my situation.

The Application for Vacation Rental Insurance from CBIZ specifically asked if the home has a fire extinguisher in the home. 12 - First Aid Kit.

Though I don't think NOI in residential has any practical use in valuations or towards other financial instrument applications, it definitely is helpful to analyze synergies forecast in OPEX when you get multiple properties. 

You will know exactly what is in each house, what the measurements are, etc. this means that if you have many you can have a standard depreciation schedule for them, it also means you can track statistics on repairs (a quote for a single home is completely applicable to any other property), how long appliances last, etc.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Not sure in this situation if my location is more applicable than the real estate location or not. 

@Jonathan Ghione S8 tenants are getting more and more "spoiled" in our area - Metro Detroit.Too many newbies and Turnkey companies are waiving application fees and security deposits, also giving them recently rehabbed, really nice homes.Then they trash them.Have you stopped and thought about WHY someone qualifies for a S8 voucher?

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Or, you can call your local credit union and they will likely either have an application to fill out or start asking you questions, and they should guide the whole process from there.