I haven’t found a property yet that will achieve what I’m looking for so no numbers available.

But I believe you could refi the FHA to conventional at 20% LTV, which maybe you can achieve in a rapidly improving area, or make periodic payments from profits to drop the principle owed, or save that money for a 25% down payment on your next property.

The first thing came up to our mind is whether BRRRR is the best way to achieve our goal.

Keep in mind that there's no one size fits all solution for everybody as each person hopes to achieve something different from their investing goals.

If that is a sticking point for you, is there anything else you could do to increase revenue to achieve the income needed to meet the 2% rule? 

I would echo what some others have brought up though - I think much better margins can be achieved.

I think this is much easier to achieve once you are already under contract, and worse thing that happens is they say no.Feel free to message me anytime if you have other questions or just want to chat!

Developing that trust with someone you don't know may seem like a challenge, but if you approach it correctly, you should be able to achieve a pretty solid foundation of trust.The best way is to talk to others who have had an experience investing with the sponsor already.

However, there are plenty of more passive ways to build steady income in syndicates, private investments, etc,  that can achieve similar results you are searching for.

As you have experienced San Diego historically has outstanding appreciation.The issue I have in suggesting you keep it is that I suspect you could do better (achieve a better return for your investment).