@Drew Murtaugh it is going to be very hard for you to do this type of deal on your first go around.

It's not just about creating beautiful spaces; it's about making every square foot work hard for both the investor and the end-user.Optimizing Space UtilizationThink about how reconfiguring a floor plan can add value.

(Social security, pension, 401k, etc)It is hard to retire on $350,000 of net worth.Even if that is generating 10% cash flow, you are talking maybe $35,000 which is $17,500 for each person.I personally like the idea of seller financing a home at that point, potentially exclude the gain on sale if it was their personal residence and get a nice interest return.If the house is big, it also allows them to downsize the home when they look for something to rent.

This is where everyone started.Residential investing is very forgiving by nature, you have to try hard to really screw it up.

If this is going to be a investment home you will have a hard time getting a cash out refinance with most lenders as an invesment mobile home.

Hope this helps for now, and great to hear you are paying attention to your hard earned retirement funds with such care and discipline! 

Not how cash flow works.And I get it, investing in CA is hard.  

You can use this property to hedge any others that you add that may only cover themselves, or require supplement until they are paid off.HOWEVER, if you have decided that your goal is to use Real Estate as a stepping stone to build wealth by upgrading the property you hold each time (condo to house, house to 4-plex, 4-plex to 8 unit, etc) then I think you are right to sell now while you think the property is at the top of it's appreciation.It will be hard for anyone on BP to tell you what to do as we don't know your goal.You are right. 

These are always hard issues for managers. 

I don't know how long you have owned it but I am willing to bet if you have owned it for at least a few years you probably have a rate on that property that will be hard to get again.