Is your yearly gross income adjusted for the loss of rent on 1 apt?  

I understand the core concept between getting your main property, and then 3-5 comps you adjust to reflect the apples to apples number, but what I'm failing to grasp is the why you adjust other properties to your focus property, and not the other way around?

Hypothetical ScenarioI pay 200,00 for a house15 years later I have paid off 190,000 of the 200,000My equity in the house is now 190,000 (not adjusting for appreciation or depreciation)I pull out 70% of what I own in this home because that is the max the bank lets me take out against the propertyA recession hits and every house goes down in value including mineMy 200,000 dollar house is now worth 150,000I still own the house, my mortgage is on a 200,000 dollar home even if it is only worth 150,000 at the momentI am in the same situation as everyone else who has a mortgage and a house worth less than the mortgage they are payingQuestionsTaking my money out of the house has no negative impact on the property right?

However, I wouldn't want to take a chance on unpermitted plumbing and would adjust my offer accordingly.  

You are careful and you are adjusting.

For what most 10 yr rates are you can figure going adjustable 2 or three years after the fixed period and still be saving your overall interest paid over that time period.Maybe others will chime in if they know of a better way.

Does the 70% rule of wholesaling apply and I just don't adjust for rehab costs?

Typically I get 25 year loans with a 5 year adjust, right now I'm paying 5% interest.

They wouldn't entertain market increase in property value as a reason to adjust LTV. 

I have been thinking about this a lot lately as I have been adjusting to life in the "real world".