I prefer this method for a couple of reasons 1) you're not fully committing and going out into the investment world on a whim. 2) you can gradually build up to this plan i.e. you'll first rent out the place, then once you realize how much you're cash-flowing you can proceed with the refinance, then you can look for your next like deal and make this plan come together. 3) you already have one property why let it go if you can cash flow. 4) if all else fails, you can still sell. 5) You start right off the bat by being able to buy another home in 2 years and faster and faster with each and every additional home you buy. 

There is no layoff but local economy will take a hit gradually. 

You should be able to find a good PM for 10% and gradually increase rents.

We raised the rent each month for six months to get it gradually to market rent, and immediately did some improvements to make it actually be worth market.  

--- and so on.Overall, I am gradually being convinced that in a hot market, below those price points where listing agents start paying for free drone photography, listing agents add absolutely no value to the transaction.

If job is being created and hopefully there will be some from the tech sector, then I believe there will be some $ inflow into the area that will continue the gradual RE appreciation.

Heres the issue though...Los Angeles min wage is going to gradually rise the next few years to $15hr anyway, so everybody is rushing to get projects done before rates move up but it looks like its happening anyway.  

One could not afford our gradual rent increase to market and left once they found a new place.  

I hoping to gradually build a rental property portfolio around the area with some cash I saved. 

In doing so, I am gradually transferring my IRA into real estate which has tax benefits for me, as well as advantages for my heir.