401K loan to purchase property subject to

[Zack Elaroussi]

Good evening all!

I’m considering purchasing a property subject to.

$0.00 to seller, only have to pay reinstatement fees as seller is about $15k behind on PITI.

My exit strategy is to move in as a homestead and eventually convert into an Airbnb. Goal would be to hold for 5-10 years.

My plan is to take a loan out of my 401K for reinstatement fees of $15K

Would love to hear everyone’s thoughts on if this is a good strategy given information above?