I recommend consulting a cross border attorney for more details! 

It fascinates me, so I don't mind the consultation fees at this point of learning.

Again, consult a lawyer.

Being there for the entirety of the project is a waste of your time...maybe checking in every now and then (once or twice a day) would keep them honest and allows you to monitor progress. 

However, to do this with 2 units may be challenging to monitor and enforce indefinitely.Once you feel comfortable enough, you may be able to make a contingent offer that allows you to back out during your due diligence period.

Mitchell,I'm neither a CPA nor 1031 expert, so you should consult the experts when performing the transaction.

I have a few promissory notes and would like to consult with professional regarding exit strategies.

However, you will not be able to convince them of this if they believe otherwise.Two options:  Move out according to lease terms or tenants to purchase flooring.Caveat:  If they get bad advice from their Homeopath, Naturopath or other unqualified consultant, you could be headed to court.

Some of those expenses being a Rental License $50 per unit annually, Fire Alarm License/ Certification $225 plus monthly monitoring fees, Certificate of Rental Suitability $25, Business Privilege License $300 per entity. 

If that use is allowed, then I would consult a local attorney who is familiar with the zoning and has experience with the board to help guide you through the process.