If you are wanting it for asset protection reasons an umbrella insurance policy would likely be much better and cheaper.  

@Gina CresseThere are two banks that will lend on a non-recourse basis to IRA's in all 50 states.First Western Federal Savings in South Dakotawww.myiralender.comNorth American Savings Bank in Missouriwww.iralending.comWhen you use debt financing with your IRA, the gains from the financed investment are taxable to the IRA as Unrelated Debt Financed Income (UDFI).  

Keep in mind cheaper isnt always better.  

Once people get priced out of that area they start to look for cheaper places nearby.

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Yet the HOA and the 7 years of increasing home prices makes me wonder if should use the money to diversify or maybe just buy another property, a cheaper property in a non HOA neighborhood.

Through the wall is cheaper but an eye sore (for the neighborhood) and pain when looking for replacements.

Can be a % or 2 cheaper as the owner usually shows their own property.

Seems to me cash out refinance is the way to go, keeping more money in my pocket, and readjusting the cash flow of existing property to fit a specific income threshold over time to minimize income taxes in retirement (Right now my taxable income is in the low to mid six figures but in retirement I plan on keeping my realized investment income low so I am free of capital gains taxes).Plus this way I can always come back to the Seattle area and move into one of my rentals if my retirement destination (Florida) doesn't work out. 

The more they do the cheaper it is or should be.