As someone who works in the 401(k) industry, I would advise against the 401(k) withdrawal as others have mentioned about the tax implications as well as those monies are then lost.   

Make sure that if you intend to stand firm a evict the tenant, your deficiency notice includes a notice that you are disabling unilateral payments as you are not accepting late rent. 

I can say I had 50 k in rental income expenses of 45 k and only made 5 k easy right. 

Because my income starting out is expected to be around 200 K, I believe that I can rely exclusively upon conventional financing to begin with, until I exhaust the total of 10 mortgages for which I am eligible, and proceed to snowball all profits into paying off each consecutive property -- each time I pay one off, I will be eligible for another (10th) conventional loan, as well as a home equity loan secured by the recently paid off property, which I can use to buy 1-2 more properties.

Maybe people have better luck with Phil Pustejovsky/ Freedom Mentor . but mine sucked Don't say I didn't warn you, well I started this program in november of last year and since then I've spent a lot of money on marketing and spent 10 k to join the program, and have not had one single good lead .

Now, you have to include Social Security numbers on K-1s, even for LLCs.

@Andrew Postell Yes it doesThe whole point was that I wanted to buy a house which is inexpensive and convert into an airbnb a year down the line and obviously if I have  a pool with a nice deck it would mean more bookingsExample buy a house without a pool for 300 k, live in it a year and have the pool put in and then change it to STR and move out and buy another house ..

Originally posted by Jon K.: That RugDoctor looks just like the $50 Home Depot one here.

I'm thinking with about 50k invested in remodeling, would bring the rent to approx $1500-2500/month for commercial space + $1500 for the residential = approx 3.5 k total/month.

As @Jim K. mentioned, that is expensive flooring and will be absolutely beautiful when refinished.