Refinance or Sell? Relocating to LA from Nashville

[Pablo Hernandez]

My gf and I are in the process of moving to Los Angeles and currently own 2 properties in Nashville that cash flow about $500/mo (total after all is said and done). I bought the first one knowing nothing about REI using an FHA for 365k and now have it listed at 415k, and the other at 200k , put about 30k into it and am planning on listing it for 275k. We will likely have around $115k to put down on our next property.

Our plan is to put the cash down on a fourplex in Los Angeles using an FHA. (LA allows you to borrow up to 1.4mil on an fha)

Is this a sound plan, or should We keep these as rental properties, refinance both, take cash out of the equity and try to buy something in LA with whatever that affords us?

Our long term goal is to have enough rental income to allow us to quit our 9-5!

Grateful for any and all tips

Cheers