When there is an opportunity to make adjustments illustrated in the lease, I would have everything ready to go with however you choose to proceed whether it be vacating the property or increasing rents to market value, etc. the easiest solution which I believe was also posted previously was to have the property vacated at closing. 

If it comes in lower, that’s okay, we will adjust once we have true numbers.

I completely left out the pet policy in the lease agreement after making adjustments to the new lease. 

Having one person coordinate who comes when, adjusting schedules when there is an issue, keeping a dozen balls in the air at once, keeping a project on schedule is not an easy job. 

Both of these are adjustable within the formula if necessary. 

If your Modified Adjusted Gross income is $64,000 (103,000 for married) or less you can take the full deduction.

I have follow-up question: If my wife's income is over $100,000 would we be better filing separately as mine is under, or is there an adjusted number to use passive loss against income for joint filing?

It may not have the math exactly what you're looking for, but it has a table where you can adjust your strategies and see where you are paying the most or least total interest.  

Currently, I am looking for a property below $250k and here are the metrics I am using to evaluate if the property will give me cash returns:IDEAL HOME (I believe these are the ideal metrics, please correct me if I should adjust my filters): Listing Price: ≤ $250K Property Market Value: ≤ 80%Property's Price Value Appreciation Rate: ≥ 3% (I read articles and gathered other data to find trending markets.

This equals your adjusted cost basis.