However, ultimately I decided to go against this as it may set a precedent for them to continue to ask for more and more modifications. 

Then they can "apply" later for this unit after they changed their mind.Maybe you could draw up a separate contract that says in exchange for modifications to the unit, tenants have agreed to cover half the costs at $300/month for 7 years. 

All other fees such as duct modifications, code upgrades, labor and materials ect, ect, are not covered.

You'll realize why coming in with a position of strength is vital-- if you cant practice such discipline, the realities of the market will make you.

Does anyone have any suggestions for modifications to better cover both parties?

He has found someone to rent it with just a few minor modifications as a workshop.

Understanding the local market there, like rental rates and property trends, is crucial but hard to do from far away.Finding a reliable property manager is vital for tasks like tenant screening and repairs.

Once the borrower realized we were serious and the foreclosure date was set, the borrower reached out in September with a Financial Hardship Application.We analyzed the financials and offered a trial payment plan along with a loan modification upon completion of that payment plan. 

I haven't had any complaints from tenants about this charge.The other softwares were pretty good, but here are the deal breakers for each.Tenant Cloud: Tenants cannot setup autopay unless we have the paid versionApartments.com: You cannot upload your own lease, you can only make modifications to their leaseAvail: You cannot upload your own lease, you can only make modifications to their leaseRentRedi: No free version AT THE TIME***I investigated these softwares 8-12 months ago, so some things could have changed.

Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate a higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property for standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.