It's a forced equity and appreciation play with the benefit of personal use and the hope that 100% bonus depreciation comes back.

Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.

So there could be benefits from starting a new lease for that reason.

The deal was contingent upon 60 day due diligence and a clean Phase 1 environmental assessment.

I’ve never managed roommates or lived with roommates but I know it will benefit me so if  the triplex doesn’t work out I wouldn’t mind having roommates.

total return from an RE investment includes value added, appreciation, tax benefits, equity pay down, and the cash flow. 

It has almost zero benefit to have it to just represent yourself. 

.—(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants.

And quite frankly, there might not be a benefit of refinancing for a while.  

If you plan to own real estate for a lifetime, this can be a huge benefit to your heirs.