His credit is in the upper 700's to 800; mine fluctuates between between 680 and the mid 700's as we put rehabs and down payments on the HELOC or credit card  in my name and then pay off when we refi and rent collected.

I managed a few STR close to my home from 2013 to 2019 and could feel the fluctuations in bookings based on increased popularity in our area and the addition of inventory by other landlords.

This factors in purchase cost, sell costs, holding costs, and fluctuations on the repair costs.

.- Annual expenses (besides interest) are around $4500 for property taxes, $1,000 for insurance, and maintenance/repairs really fluctuates but I budget around $2,500 (it's been less because I DIY a lot, but there's a value to my time).Current tenants are moving out at the end of this month and I'm seriously considering selling the home, and here's why:- Biggest factor: My last chance to take the capital gains tax exclusion for primary residences where you've lived there for 2 out of 5 years (I would move back in temporarily between when the tenants move out and until the house sells, to ensure I maintain the 2 out of 5 years).- Local housing market (Philadelphia city) has moved from "Hot" to "Warm" (source: https://drexel.edu/lindyinstitute/initiatives/reports/) just like much of the country.

Obviously the land portion of the loan can be fixed and the fees and construction costs can fluctuate during design and approvals. 

You send a mailer to a few zip codes and you get fluctuations in property values.

From my vantage point, market fluctuations for land tend to lag behind home prices, particularly in today's climate and there's still value in desirable locations where homes are priced out.  

Not only do I have steady, but fluctuating income, lenders only care about what I make after I deduct all my expenses. 

If it will cover your costs and allow you to use it for free at today's price then I wouldn't worry about small market fluctuations.

The most dangerous thing you can do with cash flow is "play with tight margins"   like purchasing a house for 275k while the rent is below  aprox 2900$/m and thats roughly ... as i would never risk that much money on high end rental because they fluctuate too much  (nearby developments, markets going up and down, someone decided to raise taxes again ...etc)cuz just imagine ...today  you are going to make 2700/m from 275k  which roughly means your cash flow is going to be ... $150-200 bucks a month after everything ( PM, taxes, P&I, some other Opex and Capex)  and dont quote me on that exact number  its just meant to show how tight of a margin you will get.