If you're trying to be considerate, it seems to me that kicking the guy out after eight years is much worse than him living through a few weeks of noise.

The rest is just noise.

I know that it's possible not to see any money for quite a while but I feel like that's what separates those who kinda want it who aren't willing to sacrifice from those who are willing to make the sacrifice of grinding it out until a deal closes.

i would layout a timeline for the project and the steps involved and invite them to various stages of the project .Most people get bored pretty quickly with the daily grind of the project but having some cautionary rules is a good idea

Short term it seems like a grind and reduces capital that could be used for additional investments or owner's profits.Point Two - Pay normal payments over the life of the mortgage.

The only advice I have is to get on your grind.  

Someone looking to rent, especially if they have kids would much rather pay $1000/mt for there own home than to share a multi family and deal with other residents and their noise and several cars parked all over the property and pay $850.

Next tenants may not be any better.I prefer side by side duplexes, up and downs seem to have more conflict with noise with tenants.I wouldn't sub the utilities, because our utility companies expend way too much credit to tenants, then expect us to pay it when they bail.

Seattle has rules about this which will make it more complex and expensive to move tenants out to start renovating a unit;  and seattle city council is making noises that their next rental ordinance may substantially increase costs of doing this.  

-the bottom of the barrel  method is a grind but wish you the best but not sure what realtor wants to put that much time into such a low percent payoff for high effort.I’d be interested if this method ends up being worthwhile for you when you look back at the time- effort you put in.