What is the best practice to pull money out of a paid-off rental, in efforts to buy another rental??

If you have consulted your attorney, and your attorney practices real estate law in your state and has reviewed your contract, then I would rely on his or her advice.

Any best practices here? 

I've read Brandon's and other books which reference in general this practice but don't get into specifics. 

So you relocated your 401k to be self-directed or you took out a loan from it?

You can do move in inspections, do paperwork etc and learn the ropes, rules and best practices from this.  

Hi Svetlana,There are rules governing the methods used to determine what is called in Appraiser land FMV - Fair Market Value.Appraisers have to follow the procedures in their manual USPAP (Uniform Standards of Professional Appraisal Practices) normally this leads to FMV being determined on appraisals of property sold in the past 6 months.

So, buyer would get two homes for practically the price of one. 

The guest defrauds us $200.What are best practices on this?  

So it's good practice to get them in touch with one another.