(End)What you will want to do is prepare a written notice to the tenant that the lease will be terminated on (give 60 days notice) and that she will need to depart the premises on or before that date. 

I would make sure you are educated and have talked to people with experience with what you are trying to do - obviously there are potential obstacles that I would prepare for ahead of time but the high-level idea is a good one - add value to a property and live for free while hopefully using the additional rent money to pay your mortgage while your house appreciates.

So I'm preparing to pull cash out of 2 properties I own free and clear and going through a portfolio lender.

If your own, I would at least factor in the cost of hiring it out so that you can be prepared to do that if you find yourself miserable doing it yourself.Are the utilities separate or all together?  

Both of those really helped prepare me for the exam.

We also timed debt markets well - sometimes the stars align - where experience and preparation meet with taking action.

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return.

You want contemporary records that substantiate these types of things, you don't want to be "remembering" them at the time of the audit.Contemporary Records means records that are prepared or generated at the same time, or immediately after, the event.I send myself an email with the details so I have some documentation with a time stamp on it, but there are no hard and fast rules about how you have to document.

Of course, we will be speaking to experts after we file our taxes in March, but I wanted to start with BP, so I can start mentally preparing.  

if your prepared to do that.