I think once we understand your goals a little more, we are happy to provide some guidance.Regarding leveraging your profits from California, it might make sense to transition those profits into an out of state property and continue to rent until the market softens a little in your area. 

If you leverage up, are you prepared to have the resources to carry the mortgage and not able to liquidate when the market softens? 

Instead we soften the answer with phrases like: “I want to change the world, I want to help others, I want to quit my job and spend time with my family”.

Fast forward a few years when interest rates may be higher and real estate prices have softened.

It will be interesting to see where the market eventually settles and whether the "return to normal" will soften demand enough to allow inventory to increase just a bit.

Or wait for one year or more for Real Estate prices to get soften so become more affordable in Del Sur/4s Ranch/ Carmel Valley.Also i own a two bedroom condo in Mira Mesa which has decent equity.Regards,utpal

FSBOs soften with time and without some equity at the buy, it's not worth it. 

Maybe the market prices will soften... 

I am seeing the market softening in Seattle.

In my mind, I know the key is to remain patient because sellers will circle back in a couple of months as the market continues to soften.