I would reinvest in a another property and use a 1031 exchange to detour taxes.   

@Kezia Edmonson, it's all about the valuations as @Jon Taylor mentioned.In your 1031 exchange you must purchase at least as much investment property as you sold in order to defer all tax. 

I’m still learning the ropes of property management, so I really appreciate the opportunity to exchange ideas.At our property, we have a structured screening policy influenced by the Federal Fair Housing Act since our location falls under its scope.

Medium of exchange.

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

If there are any community members that are local to Westchester County or the surrounding area and have time to meet up and share experiences and tips, or even have projects themselves that I could provide some help within exchange for the guidance please let me know!

As world economics and geo politics have become more of a constant, this Teak investment will serve for diversification in asset class, maturity- since you don't have to harvest, currency arbitrage since main customers are China/India/Europe. 

Then I started to contact brokers that bought and sold Apartments complexes and proceeded to 1031 exchange all my Condos for Apartment complexes and told my story on BP Podcast 238 in 2017.  

@Jeff Shaver There is no specific statutory time frame before you can do a cash out refi after completing a 1031 exchange.

And all currencies will eventually go to zero, Warren Buffet was not the first one to say this.Once I understood this, I started looking at leverage in a totally different way.