Does anyone have any product or process recommendations?

Even asking for all units to be vacant won't work with the underwriter as I understand they only look at the property based on the current situation.I explored the Freddy Mac 5% loan product but it won't work as I make too much money.

By the time things hit the market they're pretty much pricing in any major value add as if it had already been done.

The majority of interest we have is going to be room mate situations.

The total cost of rehab for this project was just under $16,000. major rehab break down:-unfinished attic was broken into 2 large bedrooms - new attic window to meet egress-upgrade electrical -carpet second and third floor-laminate flooring kitchen/bathrooms-created a new bathroom on first floor.

STAY POSITIVE AND STAY PATIENT is the major key in what he said.

When you submit your offer, make sure you have a due diligence period that gives you enough time to do these inspections.Once you get the property under contract, have the septic company do their inspection, have an engineer visit if necessary and get your property inspector out to do a full property inspection -- if he is concerned about a major plumbing issue or mold issue, you can get those specialty trades out to take a look and give you an estimate.If it turns out there is a bunch of extra work in these areas (or ANY areas) that you didn't expect, you go back to the seller and basically say, "Hey, there were hidden defects that I needed to bring in specialty contractors to evaluate, and here are the reports they provided. 

Should I add anything else to the lease to ensure that they run any major changes by me first?

Another fun fact, I've heard Tom note that the folks in his program doing well are all working in B (not major cities) markets.

The Buffalo market has really taken a major upswing over the past years and with that, pricing has come way up.