A lot of financial planners say 4% yearly withdrawal is a safe number.

I hope your MIL sees your side of the argument because I've seen things go very wrong as 2 year timelines tend to double,,, especially if you make a mistake with drawings/permitting.Another issue is there is a surplus of rental supply currently and rents have been steadily coming down in JC/Hoboken last 6 months or so.Best of luck! 

Some leaky faucets , slow drains , a broken window , a broken screen door, missing damaged facia , Eve's and saufet .wood decay around front door , a ceiling fan that doesn't work , ac with water filling drain pan , crack in garage ceiling , 1 cracked floor tile, 1 double tapped breaker , and a missing attic inspection cover .

I also believe you can withdraw your principle at any time without penalty. ...But don‘t take my word for it.TSP.Gov

That said, everything you read -- and what we're starting to feel as well -- is that the growth might slow.

My wife and I currently have an investment property in the Elk Grove area with 140k in equity and a home in North Oak Park with 90k ish in equity that we're currently airbnb'ing but would prefer to not have to go through the hassle of refi or pulling cash out with a traditional bank/credit union.Both have credit scores in the high 700's, low 800's and debt to income ratio of about 25% with a potential of being closer to 10%-15% if my wife finds out she passed the CA Bar this upcoming Friday!

Not worth overpaying in the cuse since appreciation is slow to non-existent.

. :)There's a lot to learn, but take it slow.

Also keeping in mind REI is best used as a get rich slow method.

The market has seriously slowed down, but if the condo was on the market that long it was likely a pricing issue.