Yes....and as far as I know in Texas the Assessor does not disclose how they create values...but they do have access to the MLS....so chances are you will get a jump in taxes.If you do...one way to fight the taxes is unequal assessment.....so if there are other 4plex in the area with lower values, you may be able to keep or reduce the values back to near where their tax values are.

Takes a month or two to have the government pay you, but your tenant will get a year of free rent if they make under 45k (depending on your county) and has reduced work hours.

I have no more headaches, no more stress (about this tenant), and no to little concerns about them trashing the place on the way out.Its a tough balance between worried about the tenants trashing your place, not paying (especially now in this environment), or any number of "bad things." 

And I stress the "should be" part (haha).

I do plan on this commercial property being a value add BRRRR in the sense of forcing equity, reducing expenses and raising rents.I look forward to hearing your thoughts on this personal situation and I am beyond thankful to have such a wonderful tool at my fingertips!

We were never asked for a refund and we didn't even reduce our rental fees!

This is step 1 which opens the door to the exclusion.Then there's step 2: nonqualified use leading to prorated, i.e. reduced, exclusion.

Definitely speak with your accountant about options to reduce your capital gains. 

This should also reduce your living expenses as the rent should cover a good portion of the mortgage.  

You CAN use rental income from an investment property being purchased to reduce your debt to income ratio..if the property already has a tenant you can use the existing lease.