This is what the assessed tax value will reset to after you purchase.  

Buildings and terrain around you?

Hey @Nick Gallon Martin, I recommend speaking to a Tax Planner/CPA, @Jeff Nash would be a great resource for you.

It is tax free in the sense that you will not owe taxes today on the cash-out.

House hacking is an incredible way to live affordably while building wealth through real estate.

When you converted the 3rd unit and put it on your tax return was it done through the city?

However the issue that I am running into is that it does not currently have a Tax Map Key.

Out of my 32 properties, I’ve seen insurance rates drop by up to 40% on renewals, and property tax increases are finally slowing down compared to the crazy jumps we saw over the last five years.

I would like to build a duplex on it for long term rental income.

We just think by taking cash out nontaxed and still cash flowing, while still having tax benefits, seems like a good idea.