You can probably get away with spending $10k on drawing up legal docs if you put in legwork, this simply needs to be adjusted in your proforma, along with exit strategy(ies) and so on.

I agree with the 1031 exchange approach if you are wanting to stay in real estate.Regarding the pending crash...I am not sure if there will be a crash but I am expecting a slow down if rates rise 2-3 times this year and then 3 more times in 2019. 

The listing says that they would like to stay but as the new owner can i say bye bye and screen new tenants. or do the existing tenants have to stay.

I am able to live cheap on the road; stay at a hotel with breakfast, pack lunch, cook in the room, and bunk with another guy.

I generally stay away from blue states.

Im pretty sure they stayed because of my dad and I respect that.

However, I’d like to know when doing a draft on the numbers for presentation, what should I particularly draw up?

So neither I or them are obligated to stay.

My fear is if we don’t buy now in SF soon and instead use money to invest elsewhere we will get priced out of owning in SF (we have 2 kids and we know we want to be in SF long term) I am a stay at home mom but my hope is to get a job in real estate so I can learn.

I still had 10 months in contract and was thinking that i can rent out the full duplex while staying in my apartment.