Personally I’ve never done the binder method and made a tenant multiple rent options, I’ve just set the new rate and sent it out to them via certified mail with a start date of the new rental amount 2 months out so they have time to move out if they want to.

Especially when, as Todd points out, your other options besides sit and hope are really pretty crappy. 

Welcome to BP - House Hacking and BRRRR are great options to start out!

Eviction courts are open, fair, and typically available within two weeks of filing.

@Christian StylesAll great options!

@Adam Walker what are your options if they default?

I guess I need someone to just listen and tell me I am crazy or what my options are.

Sounds like you're essentially renting to a roommate with a few more bells and whistles than room-shares typically receive. 

Specifically, we're exploring whether constructing a duplex and triplex or two duplexes would be the most profitable option.

We have several different "types" of properties to include traditional single family rentals, one multifamily rental, lease to buy options with tenants who hope to buy from us, two short term rentals, and some agricultural farm land that is cash rent.