My question is if I want to use these funds (the cash received = appraisal * 80% minus outstanding loan balance) to purchase property for personal use (primary residence), if that creates a taxable event?

If they do terminate the lease, be sure you're given proper notice per lease (read it) and applicable laws. 

I work with a bunch of busy attorneys and I got enough advice on how to properly evict him.

I work with a bunch of busy attorneys and I got enough advice on how to properly evict him.

I work with a bunch of busy attorneys and I got enough advice on how to properly evict him.

Just keep on going and hope you will balance that bad experience on the next job or maybe go positive and learn any errors will hopefully not hurt you again. 

The project would be in Los Angeles proper in 90047. 

I would probably pass before her, however, I lost 3 family members in a short period and seen how their kids and proper family lost out BIG TIME...

@Harrison CookYour post kindles lots of questions.In the "good old-days" most heating systems were vastly oversized for the building they were heating - energy was relatively cheap, insulation was non-existant to poor ... so it was easier and safer to {drastically} oversize.Today, while energy {in North America}  is still relatively cheap for the moment,  we have a much better understanding of how to make buildings more efficient {though you might not think so looking at the construction industry in the U.S.A. and Canada}  and there are often more cost-effective measures than simply replacing an old, over-sized heating plant with a new, over-sized heating plant.You really need to - or at lease should -  perform a heat load analysis to properly size your heating system, a component of which, is determining the rate of heat loss of the building envelope.  

That said, when the market got bad, it wasn't terrible here ... life is all about balance, right?