Roth Withdrawal to pay off 401k loan?

[Derek P.]

Hello everyone!  I am trying to figure out if this strategy makes sense.  I currently have a about 20k left on a 401k loan that I am paying back. I used it to purchase some cash flowing rental properties.  The monthly payments are about $650.  I would like to take out another 401k loan to purchase additional property, but my employer only allows 1 loan at a time.  

Should I take out a withdrawal from the Roth IRA portion of my retirement account to pay off the 401k loan? It's been over 5 years now so it would be penalty free to withdraw from the Roth. According to the withdrawal preview I did, it would only cost me about $1,000 in federal withholding.

I think the benefits of doing this would be $650 additional monthly cash back in my pocket which I could save for future RE investing.  Then within 1 year or less I will be allowed to do another 401k loan of up to $50k.  Do you think this is a good idea or should I just continue to pay off the 401k loan slowly?