What you are proposing/asking, may subject you to license/registration as a foreclosure consultant, which if you don't do, and/or you violate the rules, could subject you to civil penalties, if not worse. 

My end goal is to work at a consulting  firm, while being a landlord on the side. 

You need to work with a 1031 exchange consultant and make sure everything is set up prior to closing on the deal.

Consult a lender or three about your eligibility including the what if scenario.Todd

I wanted to consult you guys before speaking with an attorney.  

After all nothing comes for free..... there are consultants out there that find you the best deal available but they cost money at closing on top of what the lender wants. 

Or just find a professional people to consult with.

Consulting a contractor to see if it’s possible to add a small hallway and alter the staircase, if not I could make it one big room and possibly squeeze in a bedroom on the main floor.

You would be wise to consult with a professional.I'm not sure if you are aware of the parent-child exclusion from reassessment in California.

You would be wise to consult with a professional.I'm not sure if you are aware of the parent-child exclusion from reassessment in California.