I typically put in nice(ish) cabinets, granite countertops and stainless steel applicances.

I see it has an application for a 4 family property so I assume it is zoned correctly for that.

Totally agree ... for me with leverage, it is not a question of yes or no, but more of what degree of leverage can the investment safely support and my wife and I (and other business partners if applicable) are personally comfortable with.

Also, list out the money you put aside for cap ex, prop managers (if applicable)...

In accordance with the applicable law, Landlord may sell at fair value any such improvement, material or property to offset any amount owned to Landlord by Tenant.

You do not need more leverage, you can reject any applicant for any reason as long as it does not violate the protected species regulations.

I actually read the policy and saw both of those exemptions/exceptions but wasn't sure if they were applicable and had planned to meet with an attorney this week to discuss this further.

and have 2 applicants (co-applicants that are boyfriend/girlfriend). 

Glad to have you on here.Advice for this site...1) Set up keywords for your area and interests so that you're notified when they're used and then start interacting.2) Read through  The Ultimate Beginner's Guide3) Go through applicable blogs and podcasts as there are a lot of great resourcesAdvice for REI...1) Pick a strategy and study up on what you need to know/do for the 1st step and then do it, then repeat for all following steps until you have completed your first investment then repeat the process and keep learning.

The Pre-Qual is done by any RE agent/broker and thus has no weight with experienced sellers - - as I said, the loan application can still fail.