Borrow from 401k?

[Fe Kelly]

So my husband and I have a little chunk of money in our 401k as well as some money saved. We plan to house hack our first purchase with the BRRRR method. Should we borrow from our 401k to make up the rest of the down payment? We are sooooo over renting and need to purchase when the lease is up. I've never touched that money but from what I understand there are penalties. Any advice would be great.

[Fe Kelly]

@Mike Dymski I'm glad it worked out for you! Yeah I definitely has to make a wise investment either way. 

@Bryan O. We aren't currently using any loans. This is going to be a house hack on a duplex. We don't plan to buy a junker though. We plan to buy one with really good bones that we can update in order to raise the property value since houses in our area are moderately priced. We actually don't have a problem saving. I just wanted to know you guy's thoughts on the 401k. I had heard of people doing it but wasn't clear on of it was a good idea. Definitely thought about fha and other options. We already have enough money saved to do any of those and I'm certain credit isn't a problem. Looks like I just have to weigh pros and cons.