Iran's infantry is superior (both numerically and qualitatively) compared to Azerbaijan's infantry. The IRGC has more experience, is more determined and is battle-tested. Iran could even start an uprising in Azerbaijan by supporting Talysh and Shia-Islamist groups who are more Iran-orientated. Not even considering Iran's superior air force, its missile arsenal and naval superiority in the Caspian Sea.
Azerbaijan's tank forces are relatively modern, and quantitatively "enough" as well. 100 (+100 option) T-90S, few hundred T-72s, a large part modernized with modern FCS. Iran's most modern tanks are few hundred T-72S.
Azerbaijan has BMP-3Ms (with thermal sight and more modern FCS compared to "vanilla" BMP-3) as well. There are TOS-1A (on T-90S chassis) which could provide additional heavy firepower for mechanized forces (these do not act as classic MRL, but often providing direct firepower in mechanized formations, and being based on tank chassis).
Besides, Azerbaijan has modern anti-tank missile inventory, not to mention a sizeable quantity of attack helicopters with good anti-tank capability (the Mi-35M can carry 16 Ataka anti-tank missiles).
Azerbaijan has acquired various new MRL systems, including 306mm EXTRA guided rockets that can hit the enemy targets at the maximum ranges of 150 km with high accuracy (10m CEP).
Iran's aircraft inventory are not "enough" either qualitatively or quantitatively to "overwhelm" Azerbaijan's air defence (including the Mig-29s) in an "air superiority" situation. I'm sure you are thinking about F-14s, but what is their capabilities with regards to supressing enemy air defences?
As for the Caspian Sea, although Iran has launched its Jamaran frigate there, it's not that well equipped, obsolote in some cases, and has basically zero defence against anti-ship missiles. Russian Kommersant newspaper wrote that Azerbaijan has already sent a request to Russian side for the purchase of Bal-E systems, which is advertised with the new KH-35UE missiles with the range of 260 km. This will pose a big problem for Iranian ships.
Besides, Azerbaijan has its own naval projects as well. Last month the Coast Guard launched its own shipyard, which is producing patrol boat and OPV designs, while the Saar S-72 (which is highly superior to Jamaran in terms of technology and armament, despite its 800 ton displacement) is proposed. There are separate plans for the Navy, and the newly constructed Baku Shipyard will produce the ships. The plan has been already voiced by president Aliyev.
This is the proposed Saar S-72 for Coast Guard.
But there is also these currently produced OPVs. Its armament includes Spike NLOS (8x) missiles with 25km range.
PS: There will be never an armed confrontation between the two countries in the foreseeable future.