Remove space above and below <p> tag HTML

Look here: http://www.w3schools.com/tags/tag_p.asp

The p element automatically creates some space before and after itself. The space is automatically applied by the browser, or you can specify it in a style sheet.

you could remove the extra space by using css

p {
   margin: 0px;
   padding: 0px;
}

or use the element <span> which has no default margins and is an inline element.

In case anyone wishes to do this with bootstrap, version 4 offers the following:

The classes are named using the format {property}{sides}-{size} for xs and {property}{sides}-{breakpoint}-{size} for sm, md, lg, and xl.

Where property is one of:

m - for classes that set margin
p - for classes that set padding

Where sides is one of:

t - for classes that set margin-top or padding-top
b - for classes that set margin-bottom or padding-bottom
l - for classes that set margin-left or padding-left
r - for classes that set margin-right or padding-right
x - for classes that set both *-left and *-right
y - for classes that set both *-top and *-bottom
blank - for classes that set a margin or padding on all 4 sides of the element

Where size is one of:

0 - for classes that eliminate the margin or padding by setting it to 0
1 - (by default) for classes that set the margin or padding to $spacer * .25
2 - (by default) for classes that set the margin or padding to $spacer * .5
3 - (by default) for classes that set the margin or padding to $spacer
4 - (by default) for classes that set the margin or padding to $spacer * 1.5
5 - (by default) for classes that set the margin or padding to $spacer * 3
auto - for classes that set the margin to auto

For example:

.mt-0 {
  margin-top: 0 !important;
}

.ml-1 {
  margin-left: ($spacer * .25) !important;
}

.px-2 {
  padding-left: ($spacer * .5) !important;
  padding-right: ($spacer * .5) !important;
}

.p-3 {
  padding: $spacer !important;
}

Reference: https://getbootstrap.com/docs/4.0/utilities/spacing/

<p> elements generally have margins and / or padding. You can set those to zero in a stylesheet.

li p {
    margin: 0;
    padding: 0;
}

Semantically speaking, however, it is fairly unusual to have a list of paragraphs.