I plan to act as the general contractor for these two new units, performing most of the work myself.

Than maybe with adjusting the vocabulary to REALIZED performance and UNREALIZED performance, we can start correcting understandings. 

Hi Tiffani, often new appliances that are "off brands" that you purchase come with a warranty and perform well plus they look new.  

We are in Los Angeles, and although we do not own anything in SD, we hold a loan on a portfolio of SFR's there that is not performing at the moment.

@Jerry Chilimidos,Here is a list of lenders who specialize in lending to IRAs and 401Ks:https://www.biggerpockets.com/member-blogs/2810/50272-list-o...I don't know where your rentals are located and how they are performing but selling might be an option vs doing cash-out refi.I would certainly consider option C.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

The S&P 500 has that inflation adjusted "average" of 8% annual return, compounded WHEN drip back all dividends, and IF it performs as it has previous 30 years. 

Beachfront or properties near attractions tend to perform best.Mid-Term Rentals (MTRs): These are gaining traction, especially with traveling nurses and remote workers.

Enhancing Parking Facilities.

But let’s go a later deeper - my down payment would come out of a well performing stock portfolio.