Selling my Primary Res Kirkland, WA home for 350k in profit?

[Christian St. Jacques]

I could sell my primary residence in Kirkland for 350k in profit.  I have rental in Seattle which is cash flowing 1.3k per month.  I want to sell my primary residence so that I can be cash heavy during the downturn and be more aggressive when the market recovers.  If I want to store up cash is this the best way to go?  I plan to rent a home below my means with my family so that we can save aggressively.  We love our home but we also want to be Financially Independent in the next 7-10 years.