I know you are friends now and I hope you are in 30 years, but you'd be surprised what can happen when you mix friendship with business/money sometimes. 

And when I inevitably would have to say no, the friendship ended and wasn't pretty, no matter how calmly and friendly I explained things. 

He’s offering me 7500 total once he sells Businesses turn friendships sour on many occasions.

If things go sour it will ruin your friendship and with acquaintances it makes the mutual friend(s) feel awkward.

Those gifts did not turn me into the givers best friend....IMO, managing RE is a people business.... and while I agree that it is a business and crossing the line into friendship muddies the waters, a gift for the holidays, in the appropriate amount, is not going to turn a business relationship into a friendship..If you treat your tenants as the humans they are they will generally respect you more plus, knowing you are a real person and not just some big faceless corporation is beneficial if they ever need to make hard choices on who to pay if money is tight... 

Transunion has an option where the tenant pays for the reports - why not order them and see if you can verify at least $2,500 in regular income, no history of evictions, ever and I'd say maybe chance it but honestly you'll still be giving up your friendship.

And, if there ends up being a problem, your friendship will be in jeopardy.I'd suggest looking for another property not owned by anyone you know.

I had two tenants from two different units and I live in the third unit.Both the tenants developed great friendship among themselves and ocassionsly used to party around.

I am finishing up some books to help round out my base knowledge, but would love to connect and network with other investors to exchange knowledge and just develop friendships and connections that can help foster discussions about getting the most out of real-estate investing!

I currently live in a rented town home with my mother, we got a sweet deal due to my mothers friendship with the landlord and are paying $1100/month for a 3bed/2bath.