Same with schools, I've seen a "good" school push up the price significant ... and that didn't translate to that much higher rents. 

Translation- the bank views your 25% down payment as stronger collateral than your 160k property.

This way I can alter the template based on the deal and my RE attorney can review the document versus create one. 

But I doubt that translates very well to other markets or property types. 

Experience that doesn't translate to the folks you interact with isn't helping you.  

But how does this translate to numbers?

I deal with cheaper homes ($150-300,000) so this might not translate to higher end products.

Repairs, alterations, additions and changes of use or occupancy to existing structures shall comply with the Philadelphia Code applicable to the proposed work.

. $164K in revenue would translate to ~$110K NOI and hospitality investors are looking for closer to 10% cap rate which, even if the income approach were used (it won't be), the valuation would be around $1.1M; not $2.6M.

You don't know what you don't know, and there is a great chance you might get a low score on your first flip... which in real estate terms translates to losing money / getting burned.