My plan would be to stay with family in CA the 2-3 months I am back from work in the U.S. , and have the property 100% rented out for the year.

I live in NC, I'm 41, my wife is a high W2 earner, and we don't plan on touching this money for 12-15 years. 

It always seems to take longer, cost more and cause more stress than I plan 

@Nick BednarczykI think people also need to understand that fed rates are not directly correlated to mortgage ratesMortgage rates are more in line with the 10 year treasury which could remain high if we continue to spend money like a drunken sailor

Here are some of my next recommendations based on your current BP Profile Bio:- Listen to the BP Real Estate Rookie Podcast (https://www.biggerpockets.com/podcasts/real-estate-rookie) - Read "Set For Life" by @Scott TrenchI see that you are about to graduate college and plan to become an Army Officer by May 2025!

Good thing you can make tons of small tweaks to your kitchen to improve the overall aesthetic without having to spend thousands.

It's a great plan.

The pension amount at age 39 is not enough for me to feel comfortable, so my long-term plans are to start a small business and invest in real estate to position myself where I don't even need my pension, and it's just a bonus.

My plan was to build and sell the beach house or have it on AirBnB. 

Make sure you have a backup plan (contingencies) for if/when obstacles arise and you’re required to spend more money and possible more time (3-6 months) to the overall project.