If there isn't a huge difference in cost, I would just go ahead and replace it completely instead of the cured-in-place liner...

You can also incentivize when they come in under budget and ahead of time as well. 

Ask the county auditor straight up.

And let me know what else I can do to give you a heads up on demographics and whatnot.

Nonetheless I felt at this time it was better to go ahead and outsource it.

Just a heads up, when working with different partners across different LLC's that are layered, you'll need to invest some time into getting it set up properly. 

I'm never in a rush to bring it back to the property, somebody said (it was jordan belfort), "In-between the (2) straight-lines is where all the magic happens"!

I would plan to just go ahead an vanilla shell the remaining half while I'm at it (surprisingly few people want the ability to customize their space, they want it to start as vanilla). 

The question I have is whether I should send a courtesy letter ahead of time letting the tenant whose lease I won't be renewing know that they need to be looking for new residence as long as the sale goes through, or if that is too much of a risk since things are not finalized yet.

This is why I suggested talking to his attorney about doing an LLC because it seems pretty straight forward.