Initially they were finding deals (whether they knew it or not), but lately there are more and more properties being sold at prices they really do not justify {but they look like a steal compared to TO}.  

Hey @Rob TartreRentometer can help.Also go to Craigslist and look at rentals in your property area, just make sure you're comparing Like buildings (condo vs townhome vs duplex vs SFR)

Consider that prior to filing.

Make sure to provide the real estate agent - your lease agreement including all additions and provisions, instructions on how to screen the tenants (you set the terms according to the specific house in the specific neighborhood comparing to other rental in the area). and you let the RE agent list the rental in the MLS.

Also, I am confused. how is your lender providing you a number that you are comparing to be off by a mile? 

If you're analyzing for rentals, I've found rentometer.com to be a decent resource for finding comparable rents.  

Or did you jump into your house hack prior to finding this site?

If they can do it, and depending on where it is, the lender uses 75-85% of the comparable rents or leases for income to help people qualify. 

I have no prior experience in real estate, but I have some knowledge through various books I have read.

The only thing I really got going for myself is forced appreciation after I rehab the place for an ARV of 425k and that I cut some of my prior living expenses to about 50%.