Retirement for down payment vs. receiving annuity payments

[Michael Cavalli]

Hi everyone.  My wife and I want to take action and purchase our first rental.  It will be for my son first and then my daughter as they go through college. (My son needs a place this fall, and my daughter will when she moves out of the dorms in another year.)  I have the ability to pull out and use one of my two retirement plans for a down payment. (I used to teach in Oregon so have about $49,000 as a lump sum that I have access to now without penalty.)  

My question is whether I should use this $49,000 towards a rental now, or leave it in my account which will supposedly grow to be about $85,000 in 9 years.  I could then pull it out as a lump sum amount, or begin receiving about $681 monthly as long as I live. (These numbers are the state's calculated projections.)

It seems that, based on so many examples of Biggerpocket investors, if done correctly, I could come out ahead using something like the BRRR method and eventually be able to pull out my initial $49,000 and then repeat with another deal. Yes, I would be giving up a sure $681/month in 9 years, but I believe that during these 9 years, I could potentially end up with more wealth in the long run.

Am  I way off here?  Thanks in advance for any help with this. 

Michael