Does anyone have any insight into what these types of businesses are typically looking for in a partner and what I should be doing to make my space a good fit for them? 

What's a typical down payment for commercial multifamily?

Small businesses are typically valued at a multiple of SDE.

However, tenant insurance is typically intended to cover personal property and liability for the tenant, not the building itself.

We shall see but it may all be just typical yap yap.

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You can use a tool like AirDNA to get estimates of property performance in your specific market and with your typical size and configuration of home.

I’m planning to relist the house around April when the market typically picks up.

Is there typically an ROI?

I wouldn't bet my life on 50%, but I would bet they are more problematic than the typical long-term renter.