So I disputed the additional charge. 

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).

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.

Similar to the comments above on using FurnishedFinder, also check Airbnb and sort for 30+ day rental options. in addition, I'd recommend talking to the local university and hospitals nearby by calling to their various departments.

Let me know if you need any additional information, feel free to give me a call. 

These are professionals with additional training and a stricter code of ethics.

In most single family zoned areas adding a single ADU is not a value add meaning it will not add more value than the hands off cost of the addition.  

Additionally, the replacement property must be real estate to qualify under IRS rules.