Depending on the balances of the student loans, that can eat up your qualifying income pretty quickly.

That area is an eating space but has some dead space where you could make a pantry from tall cabinets. 

There is a good saying “ you can’t eat equity”.Good luck and I hope this helps.

Next to the refrigerator is a short retaining wall that leads to around 30 inches of dead space and then the eat in area of the kitchen.

You’re going to deal with turnover, capex, maintenance, etc that will eat into profits.

Have your cake and eat it too?

Instead, in your case, I get a big goose egg, and that doesn't help your cause at all!

I've been comparing builders by searching online for reviews but there's not much out there for the more expensive builder, but many poor reviews for the cheaper option.I've never built a house before and it's been a doozy, esp when trying to figure out what to do first b/c there is so much chicken-or-the-egg scenarios.

Without knowing market, I'd say at least a small bump of 10% could be tolerated ($20-22/mo = not going out to eat a time or two for the month, etc).  

More advice would be appreciated. 8 paidoff townhomes (100k per unit) aren't pulling the income necessary, hoa fees are eating the owner's lunch, he cant self manage anymore, nor can he afford property management.