Bruce:
You can exclude any inapplicable approaches and still have a Complete Appraisal. You merely need to state WHY you excluded an approach:
For example: excluding the income approach is common on a "Single family owner occupied and not likely to be investor purchased homes".
The income approach was considered, but not developed due inapplicability. The subject property type and location is not within the range of properties considered by investors at the present time.
You only get into Limited Appraisals when you provide
less than what would typically be provided in developing a report. A limited appraisal invokes the departure rule....
A Complete Appraisal Report includes compliance with all binding requirements and all
relevent data and research is performed as per the specific requirements. Eplaining that an approach is not relevent is the key. If another competent appraiser would agree that the ommission of one or more approaches does not affect the credibility of the report you are still in compliance in doing a complete appraisal with only one approach.
If anyone wants homework, I will post the entire laundry list of USPAP pages and AOs supporting the above. - too lazy to look it up right now