If you are trying to use profits for other means then keeping the house in the 401(k) might not be the right choice for you.You can certainly cash out these plans now, take the tax hit and invest in real estate.  

Alternately, if you are in a hot market, have no money, aren't willing to work your tail off, have no skills to add any real value, etc. then you should have no reasonable expectation of making any return at all, and if you do then it is probably coming via ill gotten ways.Wasn't there a Led Zeplin song with lyrics something like "...and he's buying an escalator to heaven"  Jay? 

Alternate link

With that being said, I would choose FL over OH (since those are the 2 choices you gave).  

Alternatively, the first mortgage may have a due-on-sale clause, which the first lender may activate when they learn about the wrap loan, meaning the first mortgage suddenly becomes due in full without any funds available to pay it.Current law has failed to prevent these scams and make victims whole.

@Gabriel Floyd, you've got a few choices but none are ideal.Your gain is roughly 50K plus a lot of depreciation recapture  (maybe another 40K to be recaptured).

Shop around .... get multiple offers and consider ALL the alternatives.

I know what the responsible choice is but it's just going to be a rental property so I'm sure it doesn't matter all that much. 

If so, a conservative investment like this would be a wise choice  to best weather the storm.  

In NJ I have no choice with current tenants- they keep their pets.