This totally ignores the seller that lists a property under market (on purpose or by lack of knowledge.) and accepts the first offer.

But assuming the numbers are correct …If the mortgage (it sounds like this is mortgage only and not PITI) is $80 more than rent, this is negative many hundreds of dollars each month.If we use 50% rule:1650 - 1650 * 5 -1730 = negative $905/month (less if mortgage was actually PITI).That is large negative cash flow and not something to ignore or treat similar to a real $100 positive cash flow.  

Trust your gut and ignore her.

Just don’t ignore cash flow completely, since it gives you a cushion for vacancies or surprises.

Quote from @Waylon Smith: I know this is likely an ignorant question.

I’ll ignore, to a degree, QuickBooks Desktop Pro and QuickBooks Online Simple Start.

That is something we do with our students, but other groups  apparently are ignoring (or don't know) some of those laws, so be careful.

And that uncertainty is what is driving the sluggish sales and not oversupply and the constant building from a city permitting process and economic lobby determined to ignore the fact that Austin never did have the fundamentals to support even 1/10th of the hype around it.

Everyone thought I was nuts and, while I did my best to ignore it, I'm sure it impacted how aggressive I was in the end. 

Seems it is being ignored because all the agents are still requesting a split commission from the proceeds of the sale.