I even paid for the extra HVAC coverage. 

I found a potential property and I think that's where the "extra" square footage is coming into play (the house has 2 bedrooms and 1,100 SF).I'm assuming adding a bedroom here may be more complicated because of matching the siding on the house - probably not worth the cost but I'm not sure.Anyone have experience with something like this?

Or extra information like pay stubs, driver's license, etc.? 

Not impossible to work around or deal with, but will require some extra due diligence and awareness of what you are getting into.

An estoppel agreement for the tenants is voluntary, and usually not needed.

Be extra careful meeting 'strangers' in your home.

As @Anthony Wick pointed out, the landlord usually has to mitigate the loss by attempting to find another tenant.

The standard calculations are usually 7% - vacancy, 10% - repairs, 10% CapEx, 10% - still for management.

Usually That is the bank telling you it’s overpriced . 

At this point in the market I am extra insistent on decent cash flow, you just cannot count on what tomorrow will bring.