You can always start on the lower end and increase your prices, but being realistic about your property and charging a competitive rate for the condition and location are the key to getting it rented it out, even if the goal is only to break even.

People will choose to buy, if they can (Supply is still around 1/2 of what it was at it's peak and people are moving in Knoxville area at an increasing rate).

Are there any standard practices for acknowledging their contribution in the transaction, or any recommended ways to structure this working relationship to ensure it's beneficial and compliant for all parties involved?

The shorter the prepayment term has an impact on increasing the rate.4.

Property Taxes (never heard of property taxes increasing if you convert a house into a house hack.

I discovered my current mortgage is behind secondary to an increased in December; I am using automatic payments and didn't notice the partial payment notification.

The height of each unit is about 8ft I believe.let me look up the sqft I believe it's a standard sized lot for chicago so about 3000 sqft Neighborhood is starting to see some nicer units rents are all higher but it's leans more low income I have a contact that is going to ask the alderman if I could build a separate unit and have the original as an adu architect suggested extending it as they believe it would be easier to get approval than a separate home

Most states Realtor associations provide a standard residential lease suitable for your state.

Where with that same 600k you can leverage it acquiring several properties at the same time putting 20-25% down on each increasing your monthly cashflow and the amount of market appreciation you'll be able to capture. 

A higher credit score increases your chances of obtaining a favorable loan.Investigate several lending choices, such as conventional mortgages, FHA 203(k) loans, and other rehab loans intended for home upgrades.