I’d really look at those numbers before you break out the sledgehammer

I breakout two values, the lot rent with applied cap rate and then a value on the POH’s based on age, condition, etc.

The listings online provide different rent breakouts vs the breakouts provided by the listing agent and the listing agent is not very forthcoming in terms of providing rent rolls, leasing information, rental history, or systems information (to calc needed capex reserves). - Also, the bedroom/bathroom breakout varies by listing and doesn’t make sense.

. :-)Now I'm about to start on the mid career stage where I'm still going to add 3 or 4 a year but I'm also going to start paring out some of the lesser houses or houses further away and move that equity into better or closer homes.Loved that breakout though. 

If they did not break out labor and materials - then your only option is to issue a 1099 for the total amount.

That doesn't mean you can't break out certain items upon purchase to accelerate depreciation, it just means it doesn't make sense to complete a study. 

As for DTI, with only 1 house it's hard to have a DTI that's too high, as long as you're below 35% you should be fine, if you get near that then you'll need a mortgage broker to break out the complicated software that give you a real DTI number which is more complicated than debt payment/paycheck. 

Get someone who knows how to maximize deductions and breakout the purchase price.

If you use the 203k loan you do.If you get a conventional loan with low downpayment they will also typically require you to live in the home for 1 year unless you get a 20% down non-occupant loan.If you break out an FHA vs. a conventional owner-occupied loan they amount to close to the same thing.

Especially if you are self managing....I don't think I'd want to be paying you as sponsor that much....I'd break out the utilities and other expenses too.I can't escape the feeling its a little light, though of course I don't know the property.