By relying solely on ROI projections from a TK provider (see #1).No matter what their benchmarks (which may vary by property class, area, etc), if a provider is not willing to provide hard evidence of the condition of the property, it will be difficult for an investor to make a smart decision.  

When we went through the refi process last year for a major reno, I ran into endless roadblocks getting financed with this weird house set-up, and finally got a loan with Benchmark here locally.

I will keep my job until certain benchmarks are met (you may have already done this).

Let's say the average rent in your area is $1,000 (use Rentometer) and your current (or inherited) tenant is paying, say, $750, then if you just bump up that rent to the average then yes the tenant may not respond well to that AND your local laws might not allow that anyway.So, it is best to really understand what is market rates are when benchmarked on what your current unit (or home) offers.

You want to see something that has low or no seasoning for a cash out refi or that may require low amount of documents.What is your draw fee & benchmarks for the repairs portion of the borrowed money?

You get the picture.At move out, that doc becomes the benchmark for what is not normal wear and tear. 

Those who use Schedule C or E to report their business line can be certain that the IRS and probably other authorities with audit powers use bench-marking to determine whether your line items are 'square'.Any non public traded entity owned by an individual or members, that would craft a cash flow from one owned entity to another owned entity would yield that cash flow as top line income.

In my view they are more like 'potentially meaningful guidelines or benchmarks' rather than rules.The reason I say that is because right here in the Salt Lake City / Utah County areas there are people who have made a lot of money (from appreciation, value add, and principal reduction) on deals that don't fit the 1% rule on say a 3 year horizon.

What benchmark above break even do you typically use to give yourself a buffer on your buy and hold SFH or small multi family deals?

In time, you will learn from your contractor - or establish some benchmarks that will allow you to get a better idea on rehab costs.