Seems like every city does it differently.

.: I didn’t realize the closing statement items were handled a different way and not included on the SchE.

Some may tell you that you can systematize anything, but the problem is, every individual home is different (even the newer cookie cutter neighborhoods).Focus on two or three neighborhoods and know what a good deal looks like in those pockets.I would also temper your expectations as far as finding a lot of equity on MLS.  

As others correctly noted, as a landlord you must look at the big picture and if this happens to be a good tenant who has occupied the unit for a while, has a history of timely payments and has expressed interest in remaining at the property the value in an extension (assuming that is advantageous to you as the landlord) should be placed above your desire to collect rent in a certain method if this particularly tenant has strong desires to make their payments in a different manner....especially if the lease they signed allowed a different payment method.

My clients once they come on board with us generally will flip 5 to 40 homes a year.. pretty hard to do more than about 3 or 4 a month but I have a client in KC that does at least 30 to 40 with me and I know he has another lender.. the difference with a company like ours that is a capital partner your paying a touch more for the service but once its going its ALL our money and then the partners work.

The biggest question you need to ask yourself is if you are doing this to afford a property you otherwise couldn’t afford or to save money period, that will lead to very different conclusions about where/if to buy. 

Dave Ramsey has a good saying about how Thanksgiving Dinner is different when you owe money to the other person at the table.

The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route.

Also, I've recently learned about these different REI tactics.

Are you looking to do more, similar deals like this, either in the same neighborhood or a different one?