Seniors who are downsizing but still want a space for their grandkids?

If they plan on renewing they get the convenience of new AC if not you can install the system during your vacancy and your new tenants can just sign a lease for a higher rent (for the AC upgrade) assuming your market commands it.IDK what how big your units are or the building but if they are small enough and space is limited you might consider a Mitsubishi split.

But I haven't personally done that or spoke to my attorney about it and since you are definitely in that space I'll have to take your word on it.

Keep your building envelope tight and risks low.

If you're doing sandwiches I would be very cautious about doing them if you are very tight with money as many people on BP are A good rule of thumb with sandwiches, is reserves of 3 to 6 months expenses PITI Remember you're basically guaranteeing to the seller on the sandwich that if the tenant buyer doesn't pay you, you are still legally obligated to pay the seller. 

I had mixed results for my area and was not convinced it was as tightly controlled.

It's not true to the materials, it's inappropriate to the space, and... it just looks stupid.  

Could get tight if you go over budget on the repairs.  

We keep them well maintained and tidy with the idea that good tenants want updated, clean spaces and are willing to pay a bit extra for them.Do I let him stay, at least another year until all the other units are turned, or does he need to move on?  

Seller is holding tight on the offer date...seller's market here, but you never know if you don't try.Venturing into loaning money or JV with others though so looking into how that works.