This is specifically for conforming loans.If youre referring to the rental income from the new property that youre buying, then 75% of the gross rent for that specific property is what's used in almost all cases. 

If you sell for a net sales price of $1 mil and buy for a net purchase price of $700K you will owe tax on the difference of $300K.BP may have a capital gains calculator you can use.  

-are you buying with conventional or DSCR financing? 

As you buy more, that will change. 

I purchased my first buy and hold SF rental property last year and turned the property into a student rental as it was very close to a local College.

Buy an existing house to live in and add an ADU in the back.

We're trying to decide whether or not to pay it off or save to buy another property. 

Seems like his option will be to buy it with a conventional loan with 5% down.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

(aside from the 1 or 2 homes that have stunning overlook views).When building out your buy box, are you all using the averages, or are you basing your min/max on the cream of the crop listing revenues, even when there aren't clear reasons as to why they are performing so much better than others?