In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

We look at lenders (so long as they lend in the asset class you are considering) as an additional line of due diligence (they deeply care about their money and they are likely more sophisticated than you are).

In addition to @Nicholas L.'

Incorporating a washer-dryer hookup in the main house could be advantageous.This addition not only increases the convenience for potential renters but also adds value to the property itself.

In addition, due to them being eligible for conventional non-commercial financing they typically have lower cap rate than 5 units and more.  

Do you have additional capital to add?

I heard that less than 20% down causes additional insurance fee? 

Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.

FHA now allows us to count rental income from an ADU (additional dwelling unit) to help borrowers qualify.