Thank you,Jerry Jerry, I recommend getting in touch with an experienced broker who can educate you on all the possible options in the investment space for cash-out refinances.

Are there other creative options I haven’t considered?

So all of the gain and depreciation recapture are initially still tax deferred.However, like Joe said, the down side is later when sold  you lose the 1031 option. the client will pay tax on all gain and depreciation recaptured from before the 1031 also. 

I am planning to build a portfolio dashboard for my properties in Excel, and I have a pretty good idea of what I want to see about them individually and combined. 

Foreign national DSCR loans are a popular option!

@Seidy Lasker Wash sale rules apply to stock options if they are deemed "substantially identical" to a security sold at a loss within 30 days, such as options with similar expiration dates or strike prices.

Then plan and design how you're going to deploy that cash via what strategy your wife and you have confidence in.I use a excel or google doc and my first sheet would layout all of the details of the sale including all costs that go into getting closed.

With your renovation background, you're well-positioned to excel in house flipping.

Once the city gives direction, then start to look at available options and penciling out the numbers to see what makes the most sense.  

At this stage, you can also discuss creative financing options, like seller financing, that might help bridge the gap between what you can afford and what they’d like to get for the property.