Quote from @Matt Taylor: If your numbers are correct, this looks like a deal worth pursuing.

You see OM's all the time touting the parent companies etc. but if they are not on the hook for the lease it means nothing.I do not mind local to regional tenants at all IF there is a personal lease guarantee with substantial net worth behind it.

Is this something worth pursuing? 

In the US, many people use a 5-6 year rule:  if you can recoup the costs of renovations in 5 years (through increased rents) then it's worth it. 

You could potentially put 4 of the 5 into a portfolio, but the one you are estimating to be worth $39k would be left out.

I get to see their credit score, current credit situation, employment history and current, eviction history, criminal record.

If tenant wants steel appliances in the other unit, you could consider asking if they want to split the cost to make it worth your while.

This means I purchased $1,500,000 worth of RE with 5% down on each.

If you are thinking of building one from scratch (not a garage conversion) then it definitely isn't worth it.

The transfer of property is a matter of public record.