That conversion will not trigger any tax.Unfortunately we can no longer eliminate all of the tax simply by converting to a new primary and living there. 

We have a long-term tenant who has recently started having a guest live with them.

two different flavors.https://www.biggerpockets.com/real-estate-investing/house-ha...https://www.biggerpockets.com/blog/live-in-flip

But am wondering if there is already a quality reservoir of information out there that folks are familiar with.Hi Arjun, I am from Colombia, and I have invested in real state over there, however I have lived the last 6 years in Spain, I exactly arrived when the economic recession started :/ However, living in the South of Spain (La costa del Sol , Andalusia) and observing how the prices have tragically decreased through the years I have finally decided to get into the business here,..

I always visit multi-unit properties during the nighttime and weekends to see what type people live in the neighborhood and in the properties I am considering to purchase.

Not sure what state you live in as some are title states some are attorney states.

Giving reduced rent to someone who will be enjoyable to live with while treating you and your space with respect is worth it.

I find that the market rents in Cleveland are pretty decent and compared to the state that I live in currently all the 3 major cities in Ohio do have a low barrier to entry.

I know them all well as I have either lived or worked there.

The family deal seems like it might be a good house hack if you can live there.