Talk to a CPA to see how each scenario plays out.A 401K continues to grow in value, but what do you live on? 

I too live in Asheville, so Sapphire was closer than Cashiers and Highlands.

I live in San Diego and am trying to purchase my first investment property I have about 150K to put down but am struggling to find deals that meet my price point. 

I live in Buffalo NY and have not seen much going on at this location. 

Hey John,I own 12 units in Detroit but currently live in California.

He lives locally, is very responsive.

@Benjamin Goodman gives a good example referencing live in flips. 

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

Buy and Hold investing is a great avenue to begin with as most people live their lives off of residual income. 

It has made me question how can people live the way they do.