And once you've got an approved applicant, then you present them with your lease, which needs to be comprehensive in its protection for you and of your property (mine is 24 pages and counting as I encounter new issues, and it contains fines for certain violations) - check your state laws.

Building small units in small unit count is some of the most expensive development.  2) the financing on an ADU is typically far worse than for initial investment property acquisition or is often not leveraged (HELOC, cash out refi, etc).

Most of the time in these situations these borrowers are high net worth and think big picture vs. counting the pennies. 

Other comparables with the same bedroom and bath count gross $60k-70k annually.

What is the unit count here?

A child support or alimony order is a debt, it only becomes income when it gets paid out and that is when it counts as income for an applicant of mine.

For these properties, I’ve calculated the Net Operating Income (NOI) based on 100% occupancy, then subtracted approximately 33% for expenses.Storage 1Unit Number: 105Size of Land: Litter under 1acre, probably not expandablePopulation: about 34K within 3 miles,Population Growth: 2-5% per yearTraffic Count: about 4KRent at 100%: $110KProjected NOI after deducting 33%: $73.7KAsking: $900KOffer price: $730-780K?

Search a radius and determine what the low/med/high properties are making by bedroom count.3) make note of what the top 5 properties have in common.

for the asset value, STRs have never had lower income (no counting any Covid lockdown periods).  

Plus there is the prison that has employees.There are pockets of Palmdale where there are homes with a good bedroom count.