Aside from having the technical ability to spot lucrative real estate opportunities, entrepreneurs hold the critical ability to seize them at the right time.

Any lease you would be able to write would be subject to your ability to close on the property. 

Also, it should be fairly easy to determine the square footage by measuring the length and width of the ADU and multiplying them. 

Rinse and repeat at Nielsen Hardware.Your ability to negotiate is nil right now... build the relationships

I would consider a sensitivity study to determine if you are off x% on rehab, what does your cash flow & equity look like?

Thus he does not have the ability to get reasonable financing. 

., how far away you are, how much time you have to devote to the property, managing service calls, going there if necessary, ability to do your own work, etc.So that's something you'll really need to decide for yourself - though I would say as a new person, you should expect that you'll be there a bit more than you "imagine" you will be (at least that was my experience when I was new 15+ yrs ago).If you do decide to hire it out, I can recommend a couple of local companies.

I'm just trying to determine if a) we want to purchase this property at all - and - b) if we want to approach this specific tenant directly versus listing it for rent publicly.

Covid caused a lot of migration that I think we are still trying to determine how will impact pricing.

As long as you don't think that debt service will interfere with their ability (or priority) to pay the rent, then I'd say go for it.