I may be a little late to the game but I've been hearing about how hot flex space is for a few years now and currently considering undertaking a new flex development project here in central Florida.

By the time winter is over, the tenant probably still has 3-6 months before an eviction hearing, particularly if they know how to game the system. 9-12 months of free rent, then they just move on to the next unsuspecting landlord.

It's a long game and slow and steady still wins the race.

This is because as the maker of the deal they want you to have "skin in the game" to protect their investment into the deal.

Does anyone in the Seattle are have the process for converting the single utilities into two? 

The two closest companies gave me soft estimates of roughly $5000, which sounds absurd to me.  

In that case, that wouldn't be an option to renew and I would present them with two options: 1) extend the current lease with updated market rate rent and new term (a true renewal option), or 2) you give them a new lease with terms you want, again with market rent.

In a different area in the Panhandle, If there 300 beaxhfront two and three bedroom condos within a 1/2 mile then they may pull $60k while a 5 bedroom with a private pool 1/4 mile from the beach might pull $225k while purchase price is only 20% more and no hoa fees.5.

There are two people living in the unit, one has signed, the other hasn't. 

@Rajul Vora This market uses two types on income to UW a 1-4 unit residential property.