Most other conventional outlets have stringent net worth/liquidity requirements for the sponsor, but that's not necessarily an issue on the CMBS side since cash flow is king.

To purchase a $320K property, you would need to have a minimum of about $150K in the plan.As @Darren Eadynoted, any future expenses associated with the property would need to come from the 401(k), so one always wants to be conservative when maintaining semi-liquid reserves within the plan to cover any unexpected costs.That said, the ability to leverage your tax-sheltered retirement dollars into a secure asset such as real estate, and receive a higher cash-on-cash return for your invested 401(k) funds is a great strategy when approached the right way.  

I had a property out in a semi decent area outside DC for a while and the A/C condenser was stolen 2 times, I mention that because there can be large unexpected costs in these areas especially if they are known to be high crime!

It's amazing the credibility you get from your maintenance crew when you show them a product they didn't know about (vinyl planking floors or CU/AL rated outlets for aluminum wiring) or discuss a job with them as if you've done this hundreds of times.  

By that I mean we will be there when vents or outlets are being placed.

I'm with Zack Karp, I would look at buying apartments in a very good area and have a property management company manage the apartments, make sure you keep cash on hand in case there are vacancies or unexpected expenses.I have bought over $5M in property, I have had apartments and flipped single family homes, if you do decide to buy single family homes, do it under 200k a piece, in other words do not buy the big expensive property even if it is a great foreclosure deal, because if you can't sell it quickly, at a higher price it is nearly impossible to rent it out and cover your mortgage payment.You could buy 7 or 8 100k homes and put 20k down on each and at that price point definitely look for some good deals i.e foreclosure, distressed home owner, whatever you do, take your time, regardless of what any realtor tells you, take your time and make smart decisions.

With pictures to prove it.These are what the the Property Management company is charging:Carpet and tile cleaning $155 (specified in the lease - not disputing)Cleaning $96 Touch up painted interior walls and Trim $135Replaced burned out regular and vanity type bulbs $19Cleared clog from front bath sink $25Replaced bad stove top burner pans $27Replaced bad outlet plate $4I believe that they should not be able to charge a separate cleaning fee (#1 because we cleaned it and it was rent ready, #2 they already charged a $155 carpet and tile cleaning fee).

Looks like the electricial wiring is original two cloth-insulated wires, although the kitchen and bathroom have three-prong GFI outlets.

I will still have income coming in from my FT job therefore if I have a higher vacancy rate or any unexpected repairs etc I will still be able to pay the mortgage.

Contract based on appraisal of home which is 71kMarketing with social media outlets .