Whats standard? 

When we evict tenants locally here the courts won't award you late fees just standard rent, so my discounted rent isn't seen as a late fee by the courts either, so they award me the standard higher rent amount. 

I received an offer on a property and the buyers agent used a standard form type of PA. 

It's basically running your numbers over a few standard deviations of key areas to get a better sense for the risk profile.

I've seen it both ways now and this company has really good reviews so maybe I'm just over thinking the details here but I want to get an idea of what is standard practice. 

That's a great question, and I think you nailed the issue - there's not a standard definition/criteria beyond it can be rented in current condition.

I am investing in Assisted Living Facilities.

Standard builders today will not put in that effort or are clueless how to hit up Georgia Pacific to get something done. 

@Chris Wharton ah ok, is this 6 months seasoning standard across all lenders?

If you’re self-employed like a lot of real estate investors and don’t have the standard tax return then maybe you could find a stated income lender.