Calculating the depreciation base, typically guided by a CPA, is the primary complexity.Except figuring out the depreciation base to use (what amount from the total acquisition cost goes for land and can’t be depreciated, and how much goes for the building/improvements to be used in the segregation and depreciation calculations, and even that should be an easy answer to figure out or get from your CPA), the rest is simple stuff your CPA will not know anyway (thus him sending you the “survey”) like, the sqft of the house, the length of the fence and if wood/iron/brick, how many ceiling fans in the house, how many cars garage, if carpet or tile in what room, etc.

Hey @Spencer Shapiro, this is a hard one to reply to because a lot of this is based on folks personal thresholds around tolerance, uncomfortability, etc. 

Could it work as a rental in those areas sure probably could if the numbers worked out, but your tenant base is not going to be the same as say Spanos area ,Stonewood ,Caldwell some areas around Lincoln, Brookside.

You denied them based on the information on their application. 

That $50K likely elevated your value by $100K-$500K, based on your payback term.

A DSCR loan (Debt Service Coverage Ratio) type loan would look at the rental income and expenses and determine the amount it could lend based on that.

These loans are based on three things.

It looks intriguing but based on what others have said regarding Connected Investors it makes me a little skeptical. 

Feel free to explore the BiggerPockets forums, ask questions, and connect with fellow investors who can share valuable insights based on their experiences. 

I'm sure my cash flow could vary based on the loan I would receive since I could use a first time home buyer loan but lets assume that I use a 30 year fixed FHA mortgage at 7%.