This took under two months to get rent ready and should cashflow about $500+ each month.

But you'll need to get permits before the last 1,000 or so are used up, after that no more permits will be given out. 

Quote from @Danielle Levy: Lesson learned: provide the full story up front and you'll get better advice.If you feel there's a case, put together all the evidence.

My plan would be use the 401k kind of like a hard money loan where I'd acquire the property, rehab it, then refinance long term, pay off the 401k loan and get it rented.

•Be mindful of regulations, HOA rules, seasonal fluctuations, and post-sale tax increases before committing.If you haven’t already, I’d suggest running numbers through AirDNA, Mashvisor, or Rabbu to get an accurate rental projection before making a final decision.Hope this helps, and best of luck with your investment!

It will be highly dependent on the LTVs, but 2nd's on investment properties get sketchy. 

If not, then you got into this way wrong from the get-go, and get that MAO sorted now. 

We are starting to get $1,200/month there.

I would like to surf the BP app whenever I have downtime just to get my daily news updates on real estate and take advantage of the PRO articles.Someone help!

There's obviously quite a bit of diligence that comes after such as who the key principles are and their credentials/track record (both balance sheet and experience), the underlying real estate and thesis behind the investment & tax prep and audit procedures but as a general rule of thumb if the investor can't get past the first part which is understanding what they are investing in, passive investing is probably not for that individual.