So if I list a property for say $25,000 above the highest comparable sale, my justification might be that the cap rate is at or above the cap rate for the highest comps due to an extra bedroom, premium finishes, lots of storage space, etc. which drives up the rent.  

I chose a 7/1 ARM over an FHA for a few reasons: (1) PMI was much lower $55/mo vs $165/mo, (2) sidestep the FHA upfront PMI 1.75% premium, and (3) I now still have the FHA option potentially in the future.

Every developer wants to put a premium on their logistic efforts when it comes time to sell. 

If not, then you were not paying a premium for both buildings.  

Then all you have to do is figure out what the premium would be vs the market, and apply that premium to the market rent in your area.

Some houses don't have interior access because they might still be occupied, some auctions come with a buyers premium fee that gets added to the final price, and sometimes you will have to pur down a deposit to be able to place bid.

The lease option would also have to be set up that a premium on rent is being paid every month for a buyer to be interested in it, also if the option price is too low you may have to lower the offer further. 

Are add-ons factored into the total premium for the study (aka umbrella policies)?

I just realized that a lien recorded in 1976 would be almost 43 years old.Depending on what kind of lien it is, I am wondering why the title company can't consider insuring over the lien based on the age of the lien or possibly allowing you to pay a premium of $ 1,000 for them to take the risk and waive/insure over the lien.I don't know who you are dealing with at the title company but you should demand that a title company underwriter review the 1976 recorded lien document.The underwriter may have other ways to deal with/insure over this lien that's 43 years old.Good luck.

I believe he will pay a premium price, take over all maintenance, and give me a slightly better return.