@Gary Parente, It seems to me that your goal is to achieve $120k in predictable, sustainable income each year so that you can retire......yes?!  

While predicting market movements is challenging, gathering data and insights from local experts or real estate professionals can help inform your decision.Consider paying off investment property: If you have the option to pay off your investment property with the equity you pulled from your primary residence, evaluate the potential benefits of reducing your debt and owning the property outright.

I'm not too concerned about source of income as long as it legal, consistent and predictable.

Using this guideline, my renovation parameters and pricing guidelines can be remarkably predictable from asset to asset.4.Look for highly distressed physical structure: While this is more of a loose guideline than a rule, I have found that value (equity) can be more easily “acquired” with truly ugly physical conditions.

Whatever your prediction for a conclusion date, add 6-9 months, maybe longer.

I predict you will see a lot more opportunities in just a few months.Option 2) Turn your property into a rental. 

Paying it down is predictable which is also good.

We have done the numbers and since no one can ultimately predict the stock market or real estate, I believe it comes down to personal preference/investment strategy.Thank you @John Morgan, but we live in a market that has high home values and high rents - 50K won't get the job done.

In my markets I predict them still rising alot in the next 0-15 years.

If the stock market corrects 20% as some predict  then we will see a price decline in the central valley.