If they are not paying rent then go through the eviction process as normal.

The Initial Filing:Any existing business not excluded must begin to file in 2024 via the FinCen network filing process.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

The initial numbers seem good to me.

In Minneapolis the tenant has to take the initiative to make an eviction disappear, and it's not always easy.  

A lot of research and studies have come out around high paying jobs make large impacts. 

.: @Colleen A LevittYou can always pay off or refinance the loan.

You pay for the basement reno out of pocket and cash out immediately...instead of waiting for 6-12 months

I only pay for BP leads and all other business comes from my sphere/referrals. 

As mentioned before, you can get away with paying for the draw money, but not using it.