I would Airbnb the rooms when I wasn't in town.I currently rent a place in San Diego and have a telecommuting job building websites.

This is to say that my 4 year investment yielded net 224K, approx. 56k per year...I did a lot of improvement works on the house: new floors on two of the three floors, tore down a wall down, completely rehabbed the basement, added a bathroom, put in a new kitchen, replaced some appliances and many other cosmetic jobs which were costly but I did myself with the help of my father and the occasional local handyman.

Meaning, I'll no longer be burdened by the need to work a salary job to provide for my family.

Their job is not easy and you are going to pay for some convenience they provide but be very leery of sustained vacancies in Memphis.

100% financing is tough...even for private lenders, unless there are compensating factors (great track record, proven successes, strong reserves, great credit score...maybe even good job/w2 income (usually not a factor for non-bank investment property lenders, but may be for a private individual)). 

We expect to spend 3-5 years out of state for the job, and then return back to the Bay Area.We've owned the home for 4 years and it has appreciated a nice amount.

I recently graduated college and moved to the Jacksonville area to start a full time job. 

All this takes a lot of time and the tasks are passed on to one person after another who is just doing their job.

So my immediate thought is to rollover the balance to a self-directed IRA (between now and August when my new job starts) and buy a rental property.

It might have areas that will continue to do well and others that will go down in its popularity so I would tend to look in areas close to home and that area in high demand, has a diverse economy, population rise, and job growth, and talking to experienced Agents and get their opinions if I was looking at it long term.