I would pay off the remaining 416K by getting a mortgage and hopefully have about 100K in equity.Anyone have thoughts or holes in this idea?

You might see some stains or loose paint on a bedroom wall if that is the case.It looks like there is a spot fix needed in the pic with the 2 holes in the wall.

Very simple to do.1) In the hole you, spray some suspend sc insecticide inside the hole. https://www.amazon.com/Suspend-Insecticide-USA-Supply-Eradic...2) Get a beekeeper suit, just in casehttps://www.amazon.com/Professional-Ventilated-Sheepskin-Bee...3) cut open the area.4) Spray inside the entire wall the suspend SC5) Dry out and close up the wall.If this cost you $200 and some time, I'd be amazed. 

The other thing you want to consider is not just the monetary value of the easement but the opportunity cost associated with giving up those rights and if it encumber the value of the rest of the property!

If you and the tenant can work things out amicably and determine a move out date + monetary amount for early lease termination I'd also speak with them about having permission to show the unit prior to their move out date. 

Maybe you are close to a black hole and have encountered a time dilation issue?

If you just grab one off the Internet, it will have a lot of holes.

A hole in the wall behind the stove-they can tape it up short term if it is really a problem. 

Start with Pace Morby and then go down a rabbit hole of videos for 20 hours and you should be able to understand most of it. 

Just as the tenant won’t voluntarily move out before lease termination because I found a tenant willing to pay more, I won’t suffer a monetary loss because they can’t or won’t fulfill their contractural obligation.