For the most part,  the intentions are noble,  and in some areas like seattle,  issues of affordability are increasing and very real,  even to people with good blue collar jobs.  

This will increase the sellers transaction cost which will increase the purchase price. 

If you can leverage after rehab and increase the COCR to 10%, it would work.

You may be showing as repair cost which is increasing your total expenses in Sch E so your have less income in that year which will effect your DTI.

I love in Clarksville as well and looking to increase my portfolio and network as well.

Over time rents will slightly increase while mortgage interest will slightly decrease but you can probably look at the "right amount" of debt to offset that (again, along with depreciation).  

So if you take that same property and are able to increase NOI (by lowering Operating Expenses or increasing rents) by $50,000, you have created $625,000 in value!

In other words, the rental increases we've experienced in the last 24 months are not "speculation" but based on lack of supply and driven by intrastate migration. 

I would like to do a few things: be able to leverage my equity and be done with PMI (to balance out the increase in taxes). 

In turn I would also call and try to have your limits increased every 6 months.