Your local housing authority likely has a list (whether physical or online) of the available Section 8 apartments and homes and you can be added to that list.

That way there is value to be added by renovation.

If this is acquired through financing, I would skip the first months mtg payment and therefore the first months profits can be added into my yearly profits or towards expenses.

If there are none, you should get Hired Auto & Non-Owned Auto coverage (usually can be added to the General Liability policy).Pricing of different options is also important.

Evan,You would just fill out an application the bank would get a copy of the account from which funds are coming out of along with any terms and agreement to check for fee's or early withdraw penalties to be added. 

Debt service is not part if NOI and it cannot be added haphazardly to the equation.Would you raise or lower your price based on what a borrower gets for a rate?  

To start you can ask to be added to their buyer lists and that will give you some insight on what sort of deals are out there. 

So, what do you consider to be adding value?

Windows need to be added and removed, garage door walled and front door added otherwise a good shell to work from.  

They usually need to if the auction property is on the MLS.Depending on your total preapproval amount, the buyer’s premium can be added to your financing.