So I had a windfall and can sort of "semi retire" with a part time low stress job. 

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.

I've consistently written about the forces of nature and her current and future effects on the real estate market (even while often being ridiculed and politicized on this very site for it) regardless: I personally moved and invested in coastal Oregon in 2018 from Venice Beach Los Angeles partly as a result of the trajectory of climate and have assisted several clients that specifically purchased on the Oregon Coast for their own 'climate havens,' investment and future retirement homes. 

Their rates are good but boy, they looked at my financials and ask some funny questions such as asking for proof that I could withdraw funds from my SEP IRA account, and that I need to provide documentation to verify that  this employer sponsored retirement account allows for funds to be withdrawn, or if withdrawals could only be made in connection with the borrowers employment termination, retirement or death etc. everyday they sent me something new to answer.

Are you retired and is this your sole income? 

I’m not looking to retire early or replace my income through rentals—I just want to diversify our assets.

We love North Carolina but we're 20 years from the retirement dream. 

I agree with @Nicholas L. and you, that 99 out 100 people who try this won't make daily home runs and won't retire in Bahamas.

Right now, I'm drowning in much better opportunities and by the time I wrap those up, I'll be retiring on some riverfront property that I like. 

Fortunately, he moved to FL after the sale, bought a mansion as his retirement home, and saved by the state's homestead laws.