The approach I took was to give them a fair (or even generous) cap rate price for the income the property was currently generating but little to nothing for the vacant units.

Will Chamberlin Thank you so much for your generous offer.

Take advantage of the generous offer by @Bob Hines and send him a colleague request here on BP and setup a time to pick his brain.

We tell the housing office that we will keep advertising it until we have a signed lease, which they won't authorize until after the inspection. 2) They always insist on lower than market rate rent, which we won't accept, even though the federal guideline tables provide for more generous rents.

Hello Anthony I appreciate the welcoming gesture!

You are a rare breed and one of the most generous people around.  

The people on here are very knowledgeable and generous beyond belief!

Since then, I've found BP to be an incredible resource for networking and shared knowledge.So far, everyone has been generous with useful information and very welcoming.Glad to be here.Wm

Thank you for your time and have a wonderful biggerpockets day, and please except the gesture below!

There a lots of really smart people who contribute to this site and are very generous with their information sharing.