Sorry to say, but much of all that is the  fire hose.Like any industry you begin by learning about the product and the rules of the industry.You need to learn real estate basics before you try to  learn how to deal in real estate.I suggest you get a text book  for Realtors to study for their license, that is the meat of the industry in all states, but states are unique.You'll then find out that real estate is unique and is not dealt with like personal property.

Depending on the conviction, we would also possibly decline the application.So the question is how do we proceed with this tenant?

There are a lot of Z-wave hub products on the market check them out. 

I feel that's a good thing to do, but by no means required in order to be an ethical person.In other businesses I've bought products from one vendor and resold elsewhere for 3-5 times as much.

Commercial Value is determined by calculating the NOI (Net Operating Income), and divide by a market cap rate based upon your geographic location, and average cap rate that similar facilities in or product type have traded recently. 

Also, Lowes & Home Depot have some very good products.  

So you are saying that your finished product will be selling for less than $50K?

I've also looked around online and used other products, but they cost hundreds if not thousands of dollars a month most of the time.

Start light strength and work your way upward or keep repeating at the same level.https://www.prosoco.com/products/sure-klean-light-duty-concrete-cleaner

See if they will give you a 30 day trial for  a set fee.DO NOT SIGN ANY LONG TERM CONTRACTS.If someone's product is good you will want to continue it.