Pros: Diverse job market, low unemployment, great resilience during recessions, nice appreciation, 1% rule can be hit if you look hard enough, great economy, good schools, Midwest nice.Cons: Extreme weather at times (hot/humid summers, tornadoes/hail, brutal cold in Jan/Feb), high insurance premiums, property taxes also really high.

For context, here's the home https://www.zillow.com/homedetails/943-34th-St-Oakland-CA-94...We bought it as our primary in 2014 for $590k and realized a nice run up in appreciation over the last decade, appraising most recently in 2022 for $1.2m. 

Here is a scenario where it all works out nicely.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

Have a nice day!  

I should clarify a couple of things - the city is abandoning their current drain line as its undersized and installing larger pipe next to it so can't be a trenchless pipe but would have been nice. 

Small college town, 10k-30k people, anywhere from 80k-160k will get you a nice 3 bed 1 bath house.

Equity and cash flow are equally important when deciding whether to pull money out.If you can put the equity to work by adding another property while still having a nice cushion on your cash flow, then I would say definitely yes.  

My developer buddy in Denver told me 'Rubin Brown.'

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Sounds like you have a nice cash flowing property already and see a tremendous opportunity with a new property.