Her C-CORP was audited once & she learned of the unrelenting detail they will go to.Then when we did have that IRS Audit they wanted to see the flow of money to/from each property to justify expenses, capital improvements, & repair time-lines to further justify the high mileages claimed regardless of mileage logs.

The market is whatever someone will pay for something.Your subject property is a comparable sale and depressing the market if you buy it at a discount (another way to look at it).If you purchased a property and did nothing to it and then sold it for a substantial profit 8 months later (congratulations), the conventional underwriter had to justify the original value as an anomaly and more than likely put in the notes of the file that the first purchase was a distress sale of some sort.  

To perform credit checks as a landlord, you could try to establish an account directly with Equifax or TransUnion, but most of us do not have the volume of credit history requests to justify the subscription costs, nor would most landlords have the security and privacy controls in-place.You may be better served by using a credit agency such as RentCheck or Tenant Verification Services (TVS) as an intermediary:  they will have accounts with multiple credit bureaus and can provide you access to credit histories for both Canadian and U.S.A. applicants.  

You don't have to justify it.Keep it short and professional.

Does the condition justify market rents?

I want to purchase a condo in Chicago for personal use in the summer but its hard to justify it sitting empty the rest of the time. 

The cost doesn't justify the benefit.  

If not how are you justifying 3% for Vacancy? 

I should mention that this property will be financed, so I want to make sure that the return will be enough to justify my purchasing.  

In general, the higher fee is justified because non-members do not pay dues to the association which may devote some part of its efforts or resources to the MLS or MLS-related matters.