Currently, I am renting a place from a very good friend at below market rent in a very small town.

These minor updates modernized the home, enhanced its curb appeal, and significantly increased its market value.

The leasing fee depends on the agent but normally its around 70% of the 1st month rent.

From my understanding if 75% of rents cashflow over PITI it actually improves you DTI for approval is this correct assuming have 2 years landlord experience?

Should be units available early next year and im worried the rent is going to stall out in the area.

I think another element, especially in major cities, will be an attempt to lure tenants through better amenities, competitive rents, and employee-incentives. 

You don't want to get caught with an increased down payment %. 

It might be easier to treat it as a full scenario with Purchase price, Down payment, Term, Prorgam, occupany, number of units/rents per door, Taxes/Insurance (Any flood, HOA) etc. 

Note the cost Psf increases for small units. 

If developers do not build additional housing units it is likely we will see rents increase on much older and likely inferior housing compared to what developers would have built.Major Housing Developer Pulls Out Of California