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).

You used to easily be able to do this with 2 unit properties, but with prices and rates today it's hard to make this work anymore, unfortunately.

New construction can offer many incentives for interest rate buy downs.

@Jonathan Bombaci recommend using that amount as a bargaining chip for lower rates.80% of evictions are wash, rinse, repeat. 

we are experiencing something similar with a property in western nc. its a large investment home, in a good area. we offered it at 100 per sqft . we have not had the attention it should have . i assumed it was due to storms , elections, interest rates. i could be wrong we may pull it from the market and finish it.

Whether the lender decides to do anything, and exactly what they decide to do depends on the lenders particular strategy, target ROI, risk tolerance, current interest rates, interest rate of subject mortgage loan, etc. 

There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.  

The tax rate would be 20%?

You will find rates all over the place just like with all insurance.

But don't let them know it.It amazes me how many of our members at MassRealEstate dot net have an Asset worth $300-500k Rent it for .5-1% of value and hardly pay attention to it, yet chase a tenth of a percent in CD rates;-)