If you're comfortable living where you are, equity in your current property or your savings rate would be the two other ways to get your next one which is going to be much slower.

Hey Phil,I live here in Memphis and can say from experience that Tennessee makes it easy to setup an Llc. 

Just think about when you buy the house, could you and your family live here.

Live way below your means and save the majority of your income.

Quote from @Kristi Kandel: Helping LA Communities Rebuild After WildfiresWhen Hurricane Ian hit Fort Myers Beach in 2022, it changed our lives forever.

Note - if you live in your property for 2 years out of the last 5, then you don’t pay taxes on the profit. 

Live in one unit and rent out the other three.

As long as you are on the loan, on title, and live in the home for 12 months minimum, then your non occupying coborrower can qualify for 5% down at owner occupied rates.

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

It's actually harder if you are currently living in the property, want to cash out, and then have it as a rental as you haven't proven to the bank that the property will cash flow $600 a month on top of the NEW mortgage costs. 1.