Additional is  taxes, insurance, city licensure and misc expense that totals about $2K/year presently and we have about $11K in revenue. 

Title Insurance is of no value since I believe the statute of limitations is 25 or 30 years as I recallMy best guess is that at some point the additional land was deeded to them by the city so the city would not have to maintain itI assume the deed is a Lot/Block as opposed to a metes and bounds ?

That is the beauty of condos in hot areas and if you're in Midtown you're much better positioned but you've really got to ask yourself how much additional appreciation you're going to get in this cycle.

In addition, you most likely will want to move your Roth 401k to your Roth IRA when you reach 70.5 years old so you won’t be forced to take required minimum distributions (RMDs).  

This type of property is an example of why I got my RE license, so I can have the additional option of offering to list the property for sale for the owner.

My wife and I hope to be free from a W-2 in the next 10 years and in addition to the rental portfolio, were looking to start up a property management company.

I could take out additional $10k to get another property.

Hi @Alfred Miller, if you have some capital saved up I would shop around for some additional HML's as well. 

In addition to what @Peter Lim asked, coming back to the question of "have you confirmed that it is legal to short-term rent the property?"

You then can make additional payments, or setup an accelerated program to pay it off as you might choose.