If you can't build them for under $140 sf all-in (including land), you are better off exploring other asset classes because your project returns won't justify the effort.

Smoking should only be done outdoors and at least ten feet away from doors and windows, particularly if they are shared with other renters (e.g. apartment building).Marijuana is unlikely to cause permanent damage or justify painting the walls, but it does leave an odor and the residue on a wall can actually be harmful to someone's health if they are allergic to it at all.

You already know that the unit will not qualify for the program and if you have justified reasons such as an 'unknown' lead paint status that will not be suitable for children under 6 to live there.

You need a bit of a crystal ball to determine if you will make any money in the end or whether you will end up supporting a liability out of your W-2 job's paycheck.Not to mention without any appreciation your in most cases going to lose principal on the exit.. you wont have enough equity to justify a 1031 .. you would have to pay recapture and sales costs so both those numbers if they did not eat into your principal will surely wipe out whatever positive cash flow you may have enjoyed the first 5 to 8 years minimum.. 

It also keeps you from wasting your time processing applicants that have no chance of qualifying.If you stated that you require a work history of x months in the same line of work and it's not met, then you have justifiably declined the applicant based on your stated requirements.

Not justifying lying or fraud. 

This makes it easy to justify charges for cleaning or repairs after they leave.Do yourself a favor: buy "Every Landlord's Legal Guide" by NOLO.

With financing options still being awesome, you can justify the higher price.  

I don't see how they can justify the expense of over 20% of the rental income on a single family new build.

You can try to justify investing based on returns rates but guess what?