But if you want to maximize your deductions now or plan to sell the property soon, then using it now could be better.Also, if you or your spouse qualify as a Real Estate Professional for tax purposes, the losses could offset other income, like your W-2 salary.

What’s the purpose of the loan and what is the collateral?

Note: This post is for informational purposes and should not be considered legal advice.

.- Lifetime limit: The $10,000 is a lifetime limit, meaning you can only use it once for this purpose.- Taxes: While the 10% penalty is waived, the withdrawn amount will still be subject to regular income taxes.This can be a useful way to access funds for a home purchase, but keep in mind the tax implications and the potential impact on your retirement savings.

There are several good markets in Michigan for this.Also recommend using a property manager to keep your investment as passive as possible and for compliance purposes with Fair Housing Law and local regulations.To Your Success!

Using round numbers for illustrative purposes. 

Sorry to see that some of you major funds that could have been used for investment purposes.

Network with purpose: Surround yourself with people already crushing it in multifamily—mentors and partners will accelerate your growth.

I wrote the above for informational purposes.

Yes Joel, That would be a business purpose DSCR loan.