Flipping is a business, whereas lending and holding rentals are not, and would not have exposure to UBIT.The 401k loan is an emergency safety valve, or a means to tap a little capital to grow a business you may operate personally when other forms of credit may not be available.  

I have just reached my emergency savings goal, now I want to save as much as I can for a down payment.

I will be out of pocket for a while now besides any forum stuff because of a family emergency - I'm sitting here in an ICU with nothing to do - but otherwise I'd be happy to help.

I was pleasantly surprised to find no age requirement in my state.  

@Justin Dixon, (thought bubble): I'm often curious why so many people look to buy homes, when they're in no better borrowing shape than the current owners - but are still surprised it's so hard?...

Again - I do not believe you will see this as your expenses are way understated and you will NOT be left with 9.6K.From your responses, it does NOT appear that your have any reserves in the event that a tenant moves out earlier then you expect or you get surprised by a major repair.

Wow, in the hottest apartment market America has ever seen, I'm surprised it's a problem.

So I've never gotten deals off M&H and way way back got one off hubzu.I've bought maybe 12 deals off auction.com REO / bank owned/ auction.com calls them "on line auctions" fewer to no surprise fees on auction.com.   

I did some research on Orange recently and I was pleasantly surprised.  

You need to consider the money you're going to lose for holding costs, property taxes, HOA fees, utilities, insurance, any surprise maintenance expenses that may arise.