Can you make the cash out pay for itself and if the answer is a comfortable yes at those interest rates, then do it. 

If you are self-managing now and comfortable with the process of taking service calls, it won't be much different when you are out of state.

Here is an overview of the deal….100K View of THE DEAL:We own a multi-family lot valued at ~$45K We’ve completed a tri-plex design and current day construction cost is ~$373KI’ve studied and am comfortable with the economic outlook of the market we’re investing (e.g., population YoY growth, unemployment, median income growth, business anchors, etc.)

However, I know someone personally who had his loan called due so it's a gamble you have to be comfortable with. 

I’ll offer another perspective related to your primary objective (goal) and how that steers the answer.Do you want to maximize net worth?

A bigger house is not always the best option for some people and if you feel as though you have too much house to handle or the monthly payments don’t make sense anymore, then consider downsizing into a home that you feel comfortable in.

If at any point you hit a road block and feel it is to much to handle I would advise hiring a public claims adjuster to get your claim maximized and completed faster.

I say that to say this, its whatever way you and your partner feel most comfortable is the right way.

Execute the below in other which makes you comfortable.1.

Awesome job of adding value and maximizing investment.