It should be what it is now in which is the delinquent amount plus any additional  fees accumulated.   

Currently a mortgage would be around 3500/month so if I rented every room around 800 each I’d be pulling in 500/month before reserves and that’s with all rooms rented out. 

I would have them get rid of the application fee.

You are making enough income to bring a check with you if you can't sell for what you owe + any fees.

In Oregon where I own most my properties, relocation fees for no-cause evictions is one months rent.

You can pull out equity every 4-6 years and keep repeating with cash outs.

Also see if you can pull up rental  and sold comps in the area using Zillow and Redfin and you have to give a   margin of error in their estimates and see if property appreciation is there for that area in case you are thinking of building equity.

Favorable Fees and Profit Splits4.

Points and fees like a traditional bank?

The other things to keep in mind utilities, cleaning before/after (fee, does it need to be dictated?)