I'm unable to come to a conclusion on whether it would be more financially advantageous to keep what's there since it's not broken and increase the rents accordingly rather than add on such a project.

I was thinking about putting in the following:Personal financial statementPrior rent rolls on the property for 3 yearsSome type of public report on the value of the complex (zillow or other) ... not sure on this oneA profitability statement ... thinking about using the one on this site from https://www.biggerpockets.com/real-estate-investme...

Extremely likely it would require a personal guarantee, so the lender will look at your financials.

Since they're not the best tenants, and you'd rather have them gone now, you could offer to let them out altogether and start over if you're ready; otherwise, I don't see how it benefits you to now only have one person financially liable instead of two. 

In my search, which entailed looking at all cities that have direct flights from Santa Ana airport (in case I need to be there), I have basically narrowed my search to Phoenix, AZ and the surrounding suburbs.Looking forward to joining this great community that has been helping millions on the quest to financial freedom!

@Connie Stainbrook check out Talimar Financial out of San Diego. 

I want to know, with my current financial situation, what I can even afford (by the lender's standards) before I dive head first into a property. 

The Financial Stability model can target people who are likely struggling - before they show up on the pre-forclosure databases.

If the commercial bank knew that I leased the entire warehouse to one company which they have a very strong financial.

You will find cash out refi rates to be higher for investment properties, so it may make more financial sense to get a mortgage in the beginning, if you are going to hold a mortgage on the property after the updates.