While considering raising the rent to reflect the market rate and adding an additional $100 for utilities, I find it challenging as we have built a positive relationship with the current tenants.As for our Studio (STR), I would appreciate any suggestions on ways to optimize the income potential of this space.

I have been discussing with a friend a potential arrangement for buying a multi-unit property.

If you do this you can potentially include a higher security deposit but you want t make sure to follow state laws about that.I understand that people may be improving their credit due to life circumstances.

Yeah Sunapee definitely looks like a potential option.

It is also important to inquire about any potential zoning issues or legal issues that may arise during the renovation of a burned home.

Analyze local demographics, rental trends, crime rates, and future development plans .While South Atlanta is undergoing revitalization, there are still opportunities worth exploring, especially in specific submarkets with potential for long-term growth.

One thing we have noted as troublesome for some potential househackers with this conventional program is that in order to use rental income from the other units towards qualifying you need to have some current housing expense verified (rent, a mortgage, etc.) 

Long story short she didn’t have money and I ended up losing a lot potential rental income and having to renovate the entire unit from damages.  

I don't know if you have to, but it wouldn't hurt to disclose it to the property management company and prospective tenants to avoid potential conflicts of interest or misunderstandings.

Your cellar appears to have potential based on its features like full-size windows and a separate entrance.You're on the right track!