Of course there can be many variations, but that's the division I make, and read often on the boards here.

But the variation is we live in the primary residence for more than 2 years, to save on taxes. 2010 - bought #1 primary residence2013 - bought #2 primary residence2013 - 2016 - rented #1 house2016 - Sold #1 home - profits are tax free if you have lived in the house for at least 3 years of the previous 5 years2017 - Will be buying a #3 primary residence2017 - rent or sell #2 So far it has been working just fine.

While there are many variations in markets, my experience has been that removing a bedroom drops the value of a property.

The variation is deals will out weigh the variations in those markets unless you plan on buying a huge number of properties.

I have found depending on the property ( if a lease is in place and condition) constitutes the variation for me...however only by a small amount. 

There is a fair amount of variation between how individual lenders approach financing a deal.  

How badly will wide variation in collections affect your overall picture?

We have a pretty strict criteria about what we'll buy, and I typically want to see a COC in the twenties on solid properties in decent areas with conventional 30 year/20% down mortgages (which is obviously tough to find right now.)BUT a deal just came up near me for 45 units - asking price is 1.65M, stated NOI is "Over $200k" (but with the variations I've seen on what some commercial brokers count as expenses, I'm waiting on more information to get really deep into this analysis.

Can you give me some ideas on how I should submit three different variations of offers that is still in my benefit to get it under market value and still cash flow?

There is too much variation in taxes from town to town for the 1% rule to provide blanket coverage.