Advice on cash flow- mortgage,loans,retirement

[BANGO]

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I am a dental student in twenties, with wife & kids. Could anyone share where they would prioritize putting money in my situation, and why?
-Have 4 year military obligation after school(110-130K/year). Wife works very part-time. 30k/year.
-Project to graduate with ~70K in unsubsidized Stafford loans from D school. No CC debt or car loans.
-Bought a house, but moved out-of-state for school (5 years into 30 year/3.65% mortgage, principal at 165K , home now valued over 300k). Have successfully rented it out for last few years (the rent paid to us is $500/mo more than mortgage we pay on house).
-Do not have much of anything going on for retirement (likely will not stay in 20 years with military)

I was wondering if I could hear some advice for my situation once I start receiving a higher/steady income. Would you pay off student loans first? Would you sell home, and roll money into retirement accounts? Keep home & continue to rent out? Try to pay the house off sooner? Not so much looking for a perfect answer, just some other things to consider. Thanks for your help!

 

[SigmaFS]

A couple of thoughts:

1. Insurances, disability and term life: You have a wife and kids so term life insurance is advisable, maybe a 25-year term policy. Own-occ disability insurance - probably provided while in the military, but get approved now to suspend the premiums until after leaving the military.
2. Establish an emergency fund equal to approx. 3 to 6 months of household expenses (a little longer if you don't carry disability insurance).
3. Contribute to a Roth IRA while you're in a lower tax bracket. You can annually contribute up to $5,500/each for you and your wife.
4. Rental property - property value has probably increased. I would maintain as is because you're likely benefitting from the tax deductions - mortgage interest, property taxes, depreciation, etc. This could result in a positive cash flow, but a net taxable loss - win, win.
5. Student loans - consider refinancing in an effort to secure a lower rate. Probably couldn't do this until you have an established work history, but look at Sofi, DRB, Earnest, First Republic. Otherwise, accelerate payment as the interest rates are relatively high.