Again, where is the legal or tax advantage for entering into this transaction structure, which will complicate your tax returns and add to administrative overhead?"

Our short-term goal is to replace the income she earns working as a Property Administrator for a large/national commercial real estate services firm. 

PM fees usually range from 6-10% with other hidden fees not included like tenant placement and other administration fees.Because you work so much and are investing OOS, you probably have to get a PM which is very unfortunate since it's hard to find a good one and they can rob you blind easily when you're OOS.

Send mailers to estate Executors/Administrators 18.

The application does say this:"False information given above shall entitle owner to 1)reject this application, 2)Retain administrative fee/holding deposit, 3)Terminate applicant(s) subsequent right of occupancy.So given that I would think I'm covered? 

You xan pay the loan off in full anyvtime and you can take loans for the full amount every year, though details will vary based upon your 401k plan administrator.  

If you are having to tap your retirement account to meet the absolute minimum down payment requirement, then you might be putting yourself at even more risk.With your 401k, you can roll it into an IRA but that comes with several conditions. 1) If your 401k is with your current employer, then your ability to roll it into an IRA is dependent on the administrator (probably your company's HR rep) to allow it.

NET WORTH/EQUITY pros: 1) Ability to leverage assets with current low interest. 2) tax free money which could become very valuable with the new administration. 

I figure there are a lot of "about to be evicted" people running around trying to move before they get the eviction on their record.I am also really curious to find out what the new administration is going to do.

Got an unusual one.....selling a house, from an estate, as court appointed administrator.