Folks, I need some advice...

[David Killough]

Hey everybody, I have a question for you all. I have a deal that's been presented to me on an additional rental that looks to be pretty good. The numbers look good, cash flow is strong, and the house is in good shape, requiring very little to make it rent ready. I'm not really asking about the whether it's a good deal or not. In my current situation, it'd be a no brainer. 

Here's my snag: I may be changing jobs in the next 6 months to a year, and with that job change comes a concomitant substantial pay decrease. The job change would be voluntary and better for me and my family in the long term, so it's not like I'm worrying about the sky falling. It's more of a planning question. I have some money in Roth's and IRA's, the principle which could be used to pay off some of the notes on my existing portfolio. One strategy would be to do that, and for a very short term, use the cash flow to keep our lifestyle closer to what it is before the job change.

What gives me pause is the idea of taking on another payment when I really need to be able to depend on that cash flow income for a little while. I've heard Brandon Turner say on a few of the podcasts that they get to a point where they just want to let the portfolio rest and recover for a while before stoking the fire again. For those of you who rely solely on rental income, how quickly to you add to the portfolio?