Your cash flow is reduced, but you have a large sum of money that even the debt free cash flow would take forever the equal.The question should start with how much money would you get either way, at what cost per month, and would they still be cash flow positive?

Yea, I’m thinking of diversifying beyond RE, keeping solid emergency fund and keeping our own expenses low, then save as much as we can (leaving Los Angeles for Columbus, Ohio and looking forward to less chaos and stress so we can focus on our family and learning about RE and building wealth over time) But then also keeping x amount for investment properties.

There are probably local groups in your city or state huddling together to figure out how to reduce the amount of money that can be made via real estate.

The amount of distributions treated as a qualified higher education expense with respect to the qualified education loans of any individual can't exceed $10,000, reduced by the amount of distributions so treated for all prior tax years.

My wife loves her job but for me my job is stressful and it never turns off.

It would look good on your paper and would look "better" when you introduce yourself to future clients that you have million things to back up your real estate license, but certainly don't need it. with real estate, you have to have good communication skills, understanding situation and how to handle it(problem solving), know how to control your stress, learn how to take care of clients under stress, analyzing, CALCULATION (like mentioned on thousands of bp podcasts) and network well. 

It is getting too wrapped up in reducing tax while not considering your business goals and maximizing cash flow.I would look for a different CPA - 24 years of experience is great, but only a handful of investors in her client load likely means she won't be as familiar with many considerations of even a small property investor.

Hi Andrew,Any equity they pull out of the property in a loan or HELOC will have to be repaid and will therefore reduce their cash flow amount. 

Yes networking with real estate agents is very important can't stress that enough

Any costs that I can reduce?