Offer to let her out of the lease without penalty and hope that she accepts the offer.

Quote from @Jay Hinrichs: my advice is to get some cash first.. dont be so focused on super high leverage. do seller finance first .. forget sub too until you are very well established and have ability to cash out the loans or refi on a moments notice @Don Konipol  Don gave you chapter a verse about the sub to risk/rewards.

That's where you may get better answers, but you also want to ask a better question to get the most out of it.How much do you know about laundromats? 

If our analysis shows that we can cash flow the property we'll make an offer to take it off his hands, spend $ to improve, and then cashflow it.  

Essentially there are investors out there that can build a large enough portfolio with little debt that can cash flow enough for a great life.If you want to scale to many properties then you will want to consider leveraging your existing properties.

Also curious how much you plan to rent each unit out for? 

My guess is these guys have no idea what they are doing, will dig about 30 feet and then drop off the face of the earth when they figure out they vastly underpriced the job, and especially will do so when you tell them you were thinking $250 was closer to the value 🤣

I live in Tampa, FL and we just got hit hard with Hurricane's Helene and Milton...Hurricane Sara is lurking out there.

In order to legally use the basement as a bedroom for you or someone else, the basement needs to have egress windows with a ladder to get out.

@Waylon Bruce Moore, I recommend reaching out to @Josh Green for some advice.