I read your posted question and can assume you already made your choice to rent to them.

My choice!

A Solo 401(k) would also be worth looking at if you are considering but have not yet converted to Roth, or as a means to set aside future contributions from your self-employment income.In a self-directed IRA, it is still an IRA, just with different choices on the investing side and a whole lot more control than conventional IRA accounts.An IRA may invest in real estate, whether all cash or with a non-recourse mortgage.The IRA is on title to the property. 

My real estate business has grown to the point where I need tax/business strategizing.

It should not be your first choice to just close the app. because you have already made it this far into the process.

However since you're not the owner yet, you may not have a choice (unless it was written in the contract).

I'm still not sold he is the best choice because he's not pro-active.

The BRRRR strategy is still existent these days it just takes more due diligence on the property of choice as well as the market.

You should definitely look into investing out of state, especially if your wife has an American citizenship, that may allow you to structure your business in a more strategic way.

@Gurjot GrewalWhat you call a mistake is not a mistake....it's due diligence.The deal didn't work out because you made the right choice based on your due diligence.