401K or IRA?

[Edward C.]

I looking at to get started on a 5 to 6 month rehab project with a high pay out at the end. 

If I needed to, and as long as the 401K allows lending against it, would I be able to use a 401K loan as a bridge loan for about 2 months until I cleared up other more traditional lending methods to pay the loan back? The Rehab will not be complete at this point just paying the tax free savings back. Also thinking of using self directed IRA money and paying it back in to my account with same lending process. Any legal issues with this or will I need to keep the 401K/IRA money in the deal until the project is complete and the final pay out is done?

Thank you for any info you can provide in regards to this.

Ted