Thoughts on using CARES Act 401k withdrawal for rental purchase?

[John Irvin]

I tested positive for COVID a few weeks ago. Thankfully had a mild case.

I was reading that if you test positive, you qualify to take up to $100k out of your 401k without the 10% penalty. If you pay back within 3 years you can avoid paying those taxes or get those taxes back in credits (I’m not clear on how that works out yet)

My thought is to use the money to jump start my invest by using a BRRR strategy and be able to pay back the $100k by year 3.

I know this can be risky depending on what happens in the markets.

Anybody else considered doing this?