Please make sure you get a structural engineer to give you suggestions on what to do. 

PS; I house-hacked with my brother for 2 years. 

The main thing is me is that the capital is tied up.

Or paying off my debt, while I provide them with a nice house to live in instead of an apartment. 

@Yoni Kaszynski, with a co-signer what I focus on is whether they are "collectible".

Definitely something to clarify upfront...If you’re replacing with another restaurant, it should be an easier transition since the setup is already in place.Your biggest risk is vacancy $450K/year is solid, but if you ever need a new tenant,  ensuring the lease rate is sustainable is key! 

This is a fantastic platform to connect with fellow investors and grow your portfolio. 

I'm sure some policies have all kinds of language in them, but if it guarantees me full replacement that is what I would expect otherwise my granite counters would be replaced with laminate and my tile and hardwood replaced with vinyl and the cheapest carpet.

What I've learned is that population, job growth, and proximity to large cities are surface level indicators but don't always tell the whole story. 

You don't want to distract the buyers from the house with too many items or stuff.