Case Study - All in or not?

[Christopher Lane]

Hey team, I'm going to present a case, my own personal case.  I hope to learn what you would do in my situation.

Goals: purchase property to hold and gain passive income, possibly renovate and refinance for more purchases.

Situation: I currently own a 3 bed 2 bath condo in Oceanside California. I purchased in 2017 with a VA loan. Purchase price was $365k with closing costs of $7k rolled in. Total mortgage amount = $372k.

Appreciation: Appreciation has been good and the house is valued around $403k - $410k. 

Current loan: I have $352400-ish remaining. at 3.375% interest. plus monthly HOA of $357.

Misc Financials: I have about $11k between a Roth and traditional TSP (thrift savings plan for the military types - IRA/401k type product) willing to withdraw from. Currently in the Reserves but on deployment making about 12k/month tax-free, but only from August 2018 to April 2019. Wife is trauma Nurse in San Diego and taxable income was $92k this year. Current credit score for me is around 680 - wife is around 740 (I had to max out 2 credit cards for a surgery :( for my poor dog) I expect to pay them off within the next two months. Then I will be debt free minus $7k left on a loan for the wifes' engagement ring.

So, Friends, what would you do?