But the question is, "what is your larger goal?" 

It's important to stay laser focused on the tasks at hand and on the things that you can control.

That is the risk of investing in deals vs. a larger fund structure. 

I would sell and use that money to bigger a larger complex in midwest.I just sold duplex in LA and bought a turnkey fully leased multifamily Kansas City.   

John will probably tell you (my assumption based on what I believe his business model to be) you need to go with a larger / higher end SFH that can house lots of people in a party pad type model, that go for $500+ a night.

We expect to have a much larger cash flow in the next 5 years, or potentially sell.

I'm looking for a Lic.Contractor to handle the renovations on these projects.Must be familiar/comfortable with larger extensive renovations.

Eventually I want to do larger commercial apartments, one day.

If it is a larger priced property then I will use a title and escrow company to facilitate the closing.

You could then use the cash out refi to fund the down payment on another commercial asset.3) If you think you would rather sell the original property, at a higher valuation you could always 1031 into a larger asset and do a rinse and repeat of what you did originally4) From an investor perspective I think it would be challenging to find private investors that would be willing to fund a cash out refi at a rate that is lower then you already have, if at all.Good luck!