@Roy N.After some reading I also came to the conclusion that unless you're credit is excellent, you will be subject to fees from 0.5-2.0%, however I feel this must be negotiable consider expected repeat business.Unfortunately there are no such live-in opportunities in 2 - 4 plexes in Vancouver at any sort of reasonable price point.

@Jonathan Marcus  made an excellent point - make sure you know the usury laws in your area so you don't run afoul of them.

We haven't run across that yet but that is excellent to know as ours odds of that increase with each unit purchased. 

1) Current home (to convert to rental)Bought for $245K a few years back, monthly PITI of ~$2,000 per month (3.125% rate 15-year mortgage with 20% down)Can fetch fair market rent of ~$2,000 per month once we move out and put on rental market; with some vacancies and maintenace built in probably more like $1,500 per month in net rental income per monthGreat neighborhood in NW Houston suburbs with lots of nearby commercial/retail development as well as excellent 10/10/9 schools, so good price appreciation potential2) Target purchase home (to move family into)Looking to buy ~$175K home, much smaller square footage, with monthly PITI of ~$1,300 per month (assuming 4% rate 30-year mortgage with 20% down)Probably will buy in same neighborhood given great schools and retail developmentEssentially, I would gain $1,500 per month of rental income from the old house and assume an incremental $1,300 per month in PITI from the new house, so this would seem to help me generate some income

Is there anyway I can autoformat it using Word or Excel? 

It was an excellent choice.

In simple language, when seeking approval for a loan, will only my income and credit score (which is excellent by the way) be verified or my household income count?

They are an excellent educational  and motivational tool.  

This is currently in google sheets and I have been meaning to move it to Excel and make it into a template.

I'm making an excel sheet with all the calculations found on this website (I will link at the bottom) such as ROI, Cash flow, etc.