AAMOF based on legislation in other jurisdictions the legality of the sort of late fee clauses most have in their leases is highly questionable.In the UK for example  http://www.propertylawuk.net/residentialucta.html the following is cited as an unfair termimpose potentially excessive penalties on tenants for failure to meet the terms of the contract e.g. by charging excessive rates of interest on late payments of rentI like the chances of the tenant that argues that  the late fee should be construed as interest and that the 5% a month many landlords have in their leases is unlawfully usurious (multiply that by 4 if they were only a week late). 

I have yet to see a section 8 tenant that could qualify.There has been case law where tenants prevailed on the rent multiplier requirement by Sec 8 landlords.  

The income multiplier is a good compensating factor and I would give this applicant consideration if employer and previous landlord check out.

And even a high multiplier is no guarantee that the tenant can afford the place.

However your longest time frame you have imagined to get it ready to move into, multiply that by 3.And you'll have driveways and sidewalks and landscaping to put in, which is enormously expensive, too.And in the meantime, you're paying rent somewhere else.  

Don't allow damage or graffiti or it will multiply.

But, when the proponents went as far as to say landlords had to use our qualification multiplier on the tenant's portion of the rent, instead of the full rent, I changed our rental criteria.

So, to look at the untaxed income in the same light and with the same calculations, you should "gross up" the untaxed income 25%.So, when looking at 3X the monthly rent, you first add 25% to their untaxed income, then multiply that by 3.An example: In CA, SSI income including the state supplement, is $890/month.  

You are able to rent them all at at the same $1400 however your expenses are more and you are only able to cash flow $250 on each, so multiply that by 5 properties... $1250 a month cash flow.

Income multiplier (compared to monthly rent)?