Simple things like larger trash can options or having a pool or lawn (constantly need to be refilled / watered) can greatly affect those numbers.Electric can vary widely too based on AC age, efficiency of house (wood vs. stucco), and living habits of the tenants.

We advise our clients and do the same for ourselves to have a spare refrigerator, portable a/c units etc available once they are over 10 units.On larger apartments 100+ units we have multple appliances and parts available on site.

Have you tried a community bank or some of those larger nation wide ( corvest finance etc) for a high LTV loan?

What sort of financing contingency to put on offers (what if my lender denies the loan based on the MFR income reported)? 

What sort of financing contingency to put on offers (what if my lender denies the loan based on the MFR income reported)?

In your experience, is there a larger required downpayment for commercial compared to residential or does that depend on the lender?

Mostly brrrrrr deals but possibly larger appt. deals or flips.

I have a really good attorney who I use in PDX that wont charge you an arm and a legg and scare you into all sorts of unnecessary and complicated asset protection schemes.. basically you can vest in LLC  have an operating agreement ( that's your JV agreement) and a clear cut buy sell agreement .. pretty simple and standard stuff.. feel free to ping me off line..

You may even be able to get in touch with a larger lender that operates in your state.

Wouldn't that be a sort of CYA policy for whoever is behind the counter at the planning office when you walk in?