I am trying to figure out if I should sell the rental for better opportunities.Ironically, I am also evaluating a 10 unit as my first multi-family. 

The gotchya is that they limit employer funding to 25% of the income, which means, to meet the 55k limit you have to exceed the FICA income limit (go figure) and pay maximum payroll taxes. 

The house is occasionally used for church Bible Study Meetings (the son leads a church in the area).The house has been "in limbo" for a while and my father-in-law is trying to figure out if he needs to do a 1031 Exchange in order to reinvest the money in a rental investment strategy.The house is paid off and is worth over $500,000 and it is located in West Covina, CA

The QSR wants to see a site plan first and want us to show a base annual rent figure that we are asking. 

@Kenneth LaVoieWhy not figure what your payments would be with the 30 yr financing and then work backwards to figure what your LTV would have to be with your current financing and then use that as a target point to pay down to and then refinance...This way you keep your liability protection, get the same payments as the 30 yr financing and are better protected against a down turn of the market due to the larger equity cushion.Example 100k note with 30 yr 4% = $477.42, but you could use a 20 yr note at 6% in the LLC and carry $66,638 mortgage to get that same payment $477.42. 

I enjoy trying to figure out what strategies will work best for me.It does seem like many members here are all about BRRRR. 

Thanks to your advice, I feel comfortable that my filing deadline is May 15 and have some more time now to figure out the rest!

I figured this would be a good time to ask what everyone else does to make showings go well as smell welcoming to perspective residents.

But one way or another I will figure this out. 

I just someone this message on another thread but I figured it applies to your thread as well.