If this is a franchise of some type, then it's usually guaranteed by the corporation, so if the tenant leaves, the corp takes over responsibility.It will take you 18 years to recover your cost of $700k.The property can appreciate all it wants, but unless you sell the property, or refi (which will probably kill your cash flow), that appreciation is just window dressing. 

Ex: If a tenant calls up to complain that their drain is broken or running slow, or that a light fixture needs replacement, or to spray the Apt with insecticide, or to fix a broken door-lock or window frame, or anything of the like such as the fast repairing, touching up, painting & cleaning needed during a turnover between Tenancies...

I  could walk the property and give you a contractors answer to cost and if an electrician needs to pull the permit or not.As most commercial properties have plenty of parking it comes down to bathrooms and kitchen and windows that needs addressed. 

This 4plex is in a class C or D neighborhood (not exactly sure which) but my realtor and I saw the potential in it due to the cash flow/COC numbers we calculated and the fact it had a ton of work done to it in 2017 to get it to decent shape (all new electrical, furnaces, HWHs, renovated apartments, new roof, all doors and windows, etc.) 

Created en suite bed/bath, extra bedroom/office/playroom, created family/tv room, added windows et al What was the outcome?

Created en suite bed/bath, extra bedroom/office/playroom, created family/tv room, added a couple of windows in dark rooms, installed new HVAC, ran all new pex lines/valves/shut offs, all new hardwood flooring and carpet, all new and expanded kitchen cabinets, new appliances, converted 1/2 bath into full bath, repurposed 2 unused rooms (1 into a 4th bedroom/office/playroom and one into a family room, installed new interior and exterior lighting, new electric garage door w/remote, and landscaping What was the outcome?

So the issue im having is This trespasser comes and goes as he pleases to destroy the property but  never stays the night At the property because its CONDEMNED he has cut plumbing lines Gas Lines , cut hardwood flooring broke walls windows removed furnace water heaters etc.

It will be a hard sell for quality renters if the "bedrooms" and living area do not have windows, walls are too low or it overall feels dingy.

Or be patient, wait until the 2-year window has opened for you, and see what's up next year.  

I like to schedule 15 minutes showings back to back and get several qualified potential tenants to come during the same window.