House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income but it's important to have a long-term plan in place.

Thank you in advance for your input.

Further, there was no title defect... coverage was not even implicated.IMO, you're just not going to find anybody wise who agrees with your strategy. 

I appreciate you taking the time to share your experience and strategies.

In terms of strategies, you can do something other than a full gut if you're more conservative.

.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

Thanks in advance!

My intention is to establish positive communication with the current tenant while respecting their existing lease agreement, with no plans of requesting them to vacate.I would greatly appreciate any insights, suggestions, or advice you might have regarding reaching out to the tenant, drafting a letter, and managing this transition smoothly.Thank you in advance for your assistance.Best regards,

@Jessica Morrisonwould need way more info... you haven't provided geographic location / area, numbers, strategy, financing info...what does your agent think?

Hello Everyone - Thank you for taking the time in advance to assist me with your input and perspective on a potential buy.