Exception would be if they're attempting to create a bidding war, but I believe those are rare houses indeed with something unique/special to offer. 

Hi David Sweeney ,I won't attempt to tackle the many questions contained in your post, but one thing to note is that since the subject property has >4 units, it is considered a commercial (not residential) asset.

I do not have much exerience I will attempt to answer your question.  

I am interested in some help analyzing this house.https://www.redfin.com/IL/Lake-Bluff/136-E-Sherida....It is a 2br/1.5ba Finding anything in this part of Lake Bluff, east of Mckinley Rd, for under $500,000.00 is rare...

Also, the renovations I did on the house were so extensive that any attempt to segregate the appreciation and costs, solely related to the underpinning and 8' basement ceiling height, would be speculation.

I attempted to call an "emergency" electrician, but he never called me back.  

Under the Oklahoma Real Estate License Code it unlawful to list, sell or offer to sell, buy or offer to buy any real estate, or negotiate or attempt to negotiate any such activity, for prospective purchasers, or advertise that you are engaged in such activities unless you are a licensed realtor.

This makes for attempting lump-applications to every broker you know instead of one-at-a-time.I wonder if turning down an approved loan is a surprise to a banker?

So I will not be able to, but I know people have rental houses in this area, so I have to attempt to figure out how they are combating the insurance.  

I am not saying that you should not attempt to get schedules E but they are really a look in the past while a current T12 and RR is giving you a picture of the current operations.