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By definition, an acquisition loan will be on a property that is being purchased at exactly market price, so lender can be comfortable w/ value risk.For a Cash-Out Refinance - a value is determined by an independent appraisal, but at the end of the day its just an imperfect guess, making the deal riskier for the lender (risk made an error on a property overvalued by "expert" opinion).  

-you might have everything perfectly organized but it's impossible to account for errors made by other people, no matter how careful you are, no matter how much time you spend following up, and no matter if you're correct. 

Being computer savvy is helpful but there's no way to get around not understanding the accounting treatment.

Hello BPI have received a quote for faux wood window treatments for a 3-2 rental.

Exam prep courses and exam fees, licensing fees to the state, local MLS dues, NAR dues, business licensing fees, and mandatory errors and omissions insurance will add up very quickly into the thousands of dollars in just that first year, and that's before you even start talking with a broker about desk fees or commission splits. 

I don't love the faux wall treatment idea.

If none is given, then I guess I will learn by trial and error.

First, it sounds like you are rehabbing and then flipping the house, so it does not qualify for 1031 Exchange treatment. 

The concerns which I see with new construction is that in addition to the initial costs for backyard landscaping, window treatments, etc it is not known how many other neighborhood rental units will compete for tenants.