When a tenant is far past due on a balance (rent, late fees) do you first take it up with collections, or small claims court? 

They can limit what property owners can do, including house hacking.Even if the city has no restrictions, if legally binding and properly recorded, covenants can enforce rules that supersede local ordinances for those living within the neighborhood.

This likely means living in Louisville proper, depending on the job's location.

Plan out what you think your loan balance will be at the end of the loan period and calculate a new interest rate versus the old to see what DSCR ratio will be.

One city near me is checking all garage enclosures, giving nice notice to get them permitted, which they may or may not grant, and if you don't get it properly permitted by December 31, says they will start fining people. 

Assuming the bank has the loan on their balance sheet (not resold), would they want to call it due if the interest rates only went up by 1.5% since the time of closing? 

Specifically I now track month end account balances, maintenance expenses and have a detailed list at my fingertips of the tenants that are late on their rents.

@Gerald Koonce Private lending from family members is allowed with proper documentation and compliance.

Days on market is about 2 months, slightly better than earlier this year but relatively speaking, it's still a more balanced market compared to rest of the Bay Area.

You've possibly stated in writing that you (may have) violated several laws ie. working as a property manager w/o the proper licenses etc. 2.