Be wary of deadlines.  

We gave them a deadline so that I could continue to evaluate other properties.

Hosts who don’t complete this requirement before the deadline may be unable to accept new reservations.

If the full distribution amount is recontributed to the IRA before your 2020 tax return deadline (including timely filed extension) then not taxes will be owed (although you will still need to work with your tax advisor to report the distribution on your 1040 but you will report the taxable amount as zero - similar to reporting an indirect 60-day rollover).2) Keep in mind that in order to take a distribution under the CARES Act you must have been impacted by the virus in one of the enumerated ways & your current account provider must allow you to take a CARES Act distribution.

Dealing with deadlines etc.

If the full distribution amount is recontributed to the IRA before your 2020 tax return deadline (including timely filed extension) then not taxes will be owed (although you will still need to work with your tax advisor to report the distribution on your 1040 but you will report the taxable amount as zero - similar to reporting an indirect 60-day rollover).2) Keep in mind that in order to take a distribution under the CARES Act you must have been impacted by the virus in one of the enumerated ways & your current account provider must allow you to take a CARES Act distribution.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

The other option is they notify you they intend to move out and you can start fresh with a new renter.Tip: I recommend giving them written notice with a deadline. 15 days should be plenty of time for them to think about it and decide.

When I've lent to about-to-be sellers so they can update and make market ready, I always get a lien position on the property and a deadline and a late fee / consequence for breach.  

If you take possession of the money, your 1031 is dead.If you don't follow all the rules and meet all the deadlines, your 1031 is dead.A QI will help you every step of the way because they've been there before.