This strategy, however, carries more risk and requires market knowledge to avoid unexpected costs or longer holding periods.If you want steady cash flow, go with the garage conversion.

If the inexperienced investor knew how much work, effort, time, analysis, negotiation, organization, capital, and knowledge it takes to successfully find, identify, evaluate, and close on a property that fits the criteria that gurus falsely claim they see 100’s of every day, 99% of them would abandon their real estate dreams” and pursue ostrich farms, mink breeding, or setting up a “down line” to sell condensed cleaning products that their “upline” has an exclusive distributorship on for the southwestern quadrant of Bisbee, Arizona.  

Based on the knowledge I have of the neighborhoods fundamentals and trajectory, will the most likely buyer still be an investor 5 years from now?

You can own more than one property with your VA benefits so you want to check your total allotment.House hacking with a kid is always just a choice and dependent on the proximity of the other unit and more.

On the other hand, I could hold on to the property with the thought that I can handle the expenses of keeping it, while continuing to pay off considerable equity and gaining appreciation for each year I hold on to the property.I would love to hear everyone's thoughts on what is the best option, as I have been having trouble making a decision given my limited knowledge and experience. 

I'm interested in growing my knowledge in those areas and want to learn about fix and flips.

I do not have knowledge of Los Angeles local rent control ordinance but statewide the “no fault eviction” (terrible name) has only a few valid reasons.  

I appreciate your input in my continued efforts to gain more knowledge on investing in rental properties.

As you said you are currently still employed there, so you can't do it right away until you leave employment there.Second, once you've rolled over, you can setup your SDIRA as a regular account (where fund release has to go via your custodian) or setup a LLC checkbook option, where you can write out a check for your choice of investments.Yes you will have full control over the use of funds in your rolled over SDIRA. 

With vibrant neighborhoods and ongoing revitalization efforts, the city provides opportunities for both residential and commercial investment, making it an appealing choice for long-term growth.I hope you the best in your endeavors.