You want to do something like this:
UIImage *item2Image = [[UIImage imageNamed:@"simulatorTabBarIconUnselected"] imageWithRenderingMode:UIImageRenderingModeAlwaysOriginal];
UIImage *item2ImageSelected = [[UIImage imageNamed:@"simulatorTabBarIconSelected"] imageWithRenderingMode:UIImageRenderingModeAlwaysTemplate];
UITabBarItem *tabBarItem2 = [[UITabBarItem alloc] initWithTitle:@"Simulator" image:item2Image selectedImage:item2ImageSelected];
Setting the selected image to UIImageRenderingModeAlwaysTemplate will tint it as your tint color. For the unselected image, apple defaults this to gray no matter what, so the only way around it is to set it to UIImageRenderingModeAlwaysOriginal and have the image asset be the color you want it to be. In my case I just made an image asset of the original image but with the alpha at 50% so it looked faded out but still has the same tint.