The downside of adverse market cycles.  

Plus if you bought with all cash from the proceeds of the sale you would be trading down in asset value quite a bit.Depending on the refi rate you could consider keeping this and refinancing it to pull some cash out which you could use as a down payment on another property.Just some thoughts, hope they help the issue with the refi is those rates at the new loan if i do a 75% LTV will almost overcome the cash flow its producing now and basically get to a break even point.

If your reasoning not to invest out of state is an emotional one then maybe dive a little deeper and figure out if there is a way to over come your discomforts.

Patience and attention to detail were key to overcoming these h

If you have a well thought out plan and several protections in place for volatility and other adverse outcomes and you feel good about it, then it is a possibility.

I explicitly and specifically built GrumpyHare to fix and overcome ALL the shortcomings of all other templates.

They’ve recently overcome the challenges you’re facing and are often the most willing and able to help you navigate themGood luck! 

How did you overcome it?

instead of "threatening" him to not do it, make him aware of the challenges ahead and why, so he has an opportunity to see and decide if he has what it takes to overcome them. 

My book on Turnkey Real Estate Investing - Simple Concepts to Overcome Analysis Paralysis and Acquire Your First Rental Property in 29 Days (this title is a work in progress) should be released before the end of October.