With the 800K invested I'd have a SWR of 32K a year on top of that rental income at 4% a year, bringing my total income from passive sources to 80K a year.I can either:A) Keep the cash and wait for buying opportunities in stocks and real estate, although I don't think we will see as big a crash again for a loooooong time.B) Keep buying now while interest rates are low and let time and inflation raise my rental income, while prices likely slowly tickle up and have occasional ups and downs (cash flow is more important than net worth).C) Pay them all off to reduce my risks and pull down 80K a year after all expenses (vacancy, capex, insurance, property taxes, etc.)D) Leave them as is and still make 80K a year passively in a much more tax advantaged way.With any of these above options I can either choose to keep working or retire, except for option A and B which require W2 income.No I didn't inherit any money.

A few years ago Boise might have made sense for what you are looking for but the home prices have escalated quite a bit over the past few years and they are continuing to rise. 

If you don’t pcs you must show how you out-grew your house. the easy way is getting married or having a child but you may have to make a case if you stay single and still want to move out.Now if you refinance out of your va as you suggested you will not have to worry about these rules however it maybe more painful than you think to refinance out of a va as the percentage may rise significantly for a conventional on top of the National average probably going up by the time you refi.disclaimer- my phone is struggling on grammar corrections and capitalization so forgive the unprofessional view of this post.

I think they do that because they are inflating their assets so they can increase their loan pool.

Prices maybe a little over inflated, but it is a great market if you can find a deal.

As long as you buy property in a good location, all but the worst mistakes will be corrected over time through appreciation, inflation and rent increases.

When creating a CapEx table to calculate your yearly and monthly costs, should you include some sort of inflation rate for the items that have a longer life span?

You should know that rents are no longer rising as they did for the last 10 years or so.

The population is rising steadily. 

We have a great rising market in the Texas hill country - specifically Johnson City.