Taking out 401k to buy rental. 100% depreciation

[Bobby Shell]

Listening to Robert K (Rich Dad) and his partner Tom Wheelwright they said you can take money out of your 401k and take the penalty, but then buy a rental and depreciate it the first year to offset the loss where you end up paying no taxes.

Does anyone have proof of this or can you debunk it? I am going to talk to my tax professional but wanted to open up the conversation and hear if the community has experience with this new tax law.

Thanks!