Understanding your market, what you are offering, and the kind of tenant you can expect to attract and KEEP will help you determine how to screen.

It can increase your capacity to pull off certain deals.

Quote from @Noah Wright: No, but here are some ways to increase ARV most dramatically:1.

I am under contract for a 3 family home w a very unique set up. 2- 1 bedroom apartments and 3 and 4th duplex which has 5 bedrooms but only 1 bathroom this home is 8 min from Brown University in RI and 10 min from Johnson Wales. (6miles)Do u think its close enough to attract college students especially the duplex? 

They have increased in value, and our rents have increased by more than 45% overall.

Not a huge increase in cash flow, but you're picking up another appreciating asset. 

I focused on adding modern luxury amenities to increase the property’s appeal to the high-end market.

I do agree that operating costs (insurance rates) will not go down and may even increase over time.

These tend to attract more reliable tenants, and the properties generally require less maintenance.

Increase income, decrease DTI, and buy a home (i.e., get a higher paying job, work two jobs, go to trade school, get a higher paying degree, live in affordable area, etc...these are things that most of us did).