The current tenants can ride along, or not.Commercial loans require estoppel letters since the income of the property will be paying the loan.

Everyone else has left the business because they are sick of the city riding them constantly for everything and the insane bonding they are required to carry.

I spend a lot of time riding my bike through areas that I'm interested in buying in. 

It's a 10 minute bus ride to the ferry.  

The other cities work too, but this one wouldn't require a plane ride.

I asked him if he wanted to go for a bicycle ride.

Let's not forget that you now have a tax shelter and you still have a tenant paying down your mortgage while you can sit back and ride the waves of the market.

I imagine that the length increases by some amount, but I doubt it would be a full year since many tenants feel fine riding out a month-to-month lease until they decide to leave.Do the downsides (forfeit of owner ability to increase rents after the year and potential to get stuck with a trouble tenant constantly calling for minor repairs) compensate for whatever this additional length of stay is?

Then you can either cash out refinance that equity bump to roll into the next deal (BRRRR) or let it ride with added safety and cash flow that you can put away for the next deal.

Anything else and you'll be taken for a ride once your cash is tied up and you are past the point of no-return.