The Mortgagee must use the current subsidy rate to calculate the Effective Income 

Hi,I’ve analyzed thousands of deals using the BP STR calculator through AirDNA.

Also, I'd be curious to see the underwriting of how you calculated the $2800 figure.

If that is the case, are they using your actual rental rates to calculate the DSCR or the figures the appraiser determined?

Be calculated about it.  

Welcome Scott,There's a ton of useful resources here on Bigger Pockets from calculators designed to show profit/loss to seasoned investors giving advice.

Sounds like you calculate that the loss of 4-6 mo of rent of the Spring semester is adequately offset by the premium rent you expect to receive starting in June.

You can't calculate it like that because you are going to make about 20 percent of mistakes buying on your first 5-8 properties.

Per this NY Times article, the average American knows around 600 people.https://www.nytimes.com/2013/02/19/science/the-average-american-knows-how-many-people.html#:~:text=The%20average%20American%20knows%20about,do%20you%20know%20named%20Kevin%3FPer the US Census Bureau, the average American moves 11.7 time in their life, which based upon an approximate lifespan of 84 years, works out to be about every 7 years.https://www.census.gov/topics/population/migration/guidance/calculating-migration-expectancy.html#:~:text=Using%202007%20ACS%20data%2C%20it,one%20move%20per%20single%20yearSo, if the average American knows 600 people and they each move about every 7 years, that means that the average American knows around 85 people that move in any given year.How many of those moves do you want to be involved in?

Upfront expenses and monthly payments must be considered when calculating the return on your investment.EXAMPLEYou cash out $100,000 of your equity and use this as a down payment on a $400,000 investment property.