Should I resign and roll my $50k 401k to solo 401k

[Steven Steele]

Good afternoon, everyone!

I'm looking for some advice.

I was furloughed on March 8th and "temporarily" laid off May 31st. The initial furlough caused me to go back to school to finish my BS which I am about 1.5 years away.

Here's my "situation":

1. I don't like the job, but I made good money.

2. As soon as I finish my degree, I plan on getting a new job.

3. I will be very surprised if my department gets back to business within a year. (I'm a banquet server in Phoenix, which is being hit hard by COVID)

With all of this in mind I called HR about rolling over my 401k, which she told me I was unable to because I am still "technically employed" even though I have been laid off. I asked her if I could resign, and then re-apply once business picks up, but she said there would be no guarantee the position would be open.

So as of right now, the ONLY benefit of me staying is having my job back if/whenever business picks up.

What I'm having trouble deciding is.

*Does it make sense to resign and roll my 401k over and start investing in Real Estate (I'm leaning towards bi/triplex rental in a different state, since PHX prices are crazy now.) If so how does that work with qualifying for a mortgage, since I will loose my 5+ years of steady work history.

*Should I just wait until I have 2 years of new work history, and then roll it over?

I spoke to a gentleman who mentioned taking out a loan against my 401k, but I'm not sure how that would work for what I want to do