If a duplex / multi-family home, how do we assess/calculate potential rental value?  

If you're looking to invest in Jerome Village, definitely factor this future charge into your cash flow calculations and maybe have your CPA take a look at the exact language in the Declaration. 

My goals would be to increase monthly cash flow and have more access to the property's equity for things like Cap Ex, etc....Here's a blurb from a lender's website:"By combining banking functionality with home financing into one dynamic instrument, borrowers are able to save tens of thousands of dollars and years off their loan""Designed after popular programs around the world, the All In One First Lien HELOC is the nation’s first transactional offset type-mortgage program.Home financing and banking combined:Deposits lower your loan’s principalFunds remain available for expensesInterest is calculated on the average daily balanceThis lowers the monthly interest paymentsTens of thousands of dollars can be saved over the life of the loanMortgage freedom can be achieved in half the time or less

DSCR stands for Debt Service Coverage Ratio, which is a calculation that determines if a loan's income covers its annual debt service. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Imagine you bought a property for $2M.The land (excluding any structures) is valued at $400K.Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your depreciable basis.Your depreciable basis is simply where a cost seg engineer starts from when allocating your eligible assets into either 5, 7, or 15 year property.In the scenario above, your starting basis would be $1.6M since your basis = your purchase price - the land value.Having an accurate land value is essential to getting your depreciation/bonus depreciation calculations right.This is the starting point for any cost seg study that you do.

@Saad D.It's not dead, but it also doesn't calculate the MASSIVE elephant in the room....EXPENSES. 

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

One metric they provide is new construction sales, which I can use to calculate % of total sales and see whether that value is trending up or down.My question is, in general is a market more or less desirable if there are a lot of new builds hitting the area? 

Midterm Rental calculators don't exist because the mass data is hard to pull right now.