I can only think of 2 times inn the last decade my client has had to go though an eviction and both times it started cause the owner and tenant had personal issues. 

We consider this issue closed.

Numerous times I have been able to think through an issues that arose on a construction site and saved the Owner by proposing an alternate route to resolve it. 

I'd issue a notice of non renewal, do the work that's needed to get the property rent ready and find a solid tenant that will help you get to your goals. 

For example the license should not only have a cost but also require at least some compliance training targeting some of the most common issues/complaints.

You ask about a skip tracing issue because you are not having success with it.

You need to know what to look for, what to address, and have solid buisiness acumen to run a MF operation of that magnitude.

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

Managing a property hours away can be challenging if any issues arise, but having a third-party property management company could help handle those situations and make things more manageable.I think you are in the right place to gain some insight on what would make you successful. 

You may run into issues since it's a smaller loan.