They seem to like the dry of the desert rather than the moist of So TX, and FL. 

So brainstorm the different options then pull the trigger!

@Albert Gallucci this is the 64,000 question and I tend to agree with @Jaron Walling it's really not that cut and dry. 

One of the other factors that kept me from pulling the trigger is that the city has never passed any real STR regulation.

Once you find a good property and all the numbers make sense - pull the trigger.

This allows you to use the funds without triggering penalties or taxes, as long as you stick to the repayment schedule.These strategies all come with rules and limitations, so it’s a good idea to check with a tax advisor before moving forward. 

If you can find that deal, pull that trigger.

Highly recommend you looking into a checkbook IRA instead of cashing out.Sure you can take out the principle since you’ve already paid taxes on it but this money is supposed to be for your retirement and in a Roth your real estate can grow tax free, though check with a CPA to see if STR will trigger UBIT in an IRA.

What has kept you from pulling the trigger thus far?

It may trigger if you are paying down the balance aggressively during the prepayment penalty period.