So sad...... what is scary too is they only have them 10-20% contained and they are expected to get high winds again which can carry those embers pretty far. you also have to think these fire fighters etc. have been working around the clock and must be exhausted.

This area was always a very high risk and should they rebuild?

I also doubt very seriously that any brokerage/custodian is going to allow this kind of loan with 401k assets; it's likely going to need to be a 401k general purpose loan, which is highly regulated (as someone else mentioned). 

The quality of answers to your are directly correlated to the quality of your questions asked.  

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Highly suggest coming out to some of the local chicago IN-PERSON meetups! 

I have done this before and now find the risk just to high.  

The high end is the 20 or so co ops on 5th Avenue or Park Ave (one is on East End Avenue) that require liquid assets of $100 million + to gain board approval.  

This may kill your cash flow due to high interests rates though. 2.

Hey Andrew, welcome to the Forums.That’s awesome you’ve been learning about real estate since high school—starting early will really pay off.