The initial tenant screening process can be very cut and dry, but then people move in and life happens.

Just trying to decide when its best to pull the trigger.

It might be a discussion to have now before you pull the trigger on the new arrangement, especially if it's going to mean the loss of their effectively paying you ~3K/year (by their paying the current mortgage).The question of whether you can pull cash out is separate in a way, and really up to the lender.

That does not trigger the tax. 

I feel like it will be more of a job to have to access/replace these pipes, repair dry wall and the floor.

So typically do 1-2/year and the profits I have been able to make still more than offset the rental income I make by many times over.The risk is that with flips, the deals dry up. 

Will the change in title (ownership) trigger a tax bill because we used 1031 funds to buy the property? 

Hi @Christian ValenciaDid you ever pull the trigger on this Endicott property.

You are going to a different Building Code standard that usually triggers fire protection, usually a residential sprinkler system in at least the unit you are creating.

The purpose of this program is to put capital to work that would otherwise be locked up due to the asset holder's unwillingness to trigger a capital gains tax. [1]To qualify, the Opportunity Fund must invest more than 90% of its assets in a Qualified Opportunity Zone Property located in an Opportunity Zone.[7] The property must be significantly improved, which means it must be an original use, or the basis of the property must be double the basis of the non-land assets.[8] Capital gain taxes are deferred for investments reinvested into investments in these zones and, if the investment is held for ten years, all capital gains on the new investment are waived.[3] Opportunity zones are census tracts designated by state authorities.