Currently sitting in a 5/1 ARM, at my 6th year and set to adjust in November.

All plan transactions must be done at arm's length.The 401k could purchase a property using non-recourse debt financing or partner with someone who is not you, lineal family or a business owned by you or lineal family.

After reading The BiggerPockets little/no money down guide, I thought I was armed with enough information to begin getting the money together for this great deal.

This is all assuming arm's length transaction.

The property management arm does an excellent job getting to lease renewals early.Overall, the company has been an excellent way to invest in single family residences out of state, for what I want (mostly hands off, property solidly rehabbed, steady cash flow, consistent updates from property manager).

The value you seek is smallish, so I would look for an LTV they would like, seek terms you would like (no prepayment penalty, 20yr arm) and then 3-4 months post COE, slam your cash into the loan, it that's your choice.

Some combination of ARM, higher rate, and points upfront, will apply.All of this should have been brought to your attention back when you were seeking preapproval, this is commodity/common knowledge among lenders. 

Once that is used up I may consider bringing in some private lenders for funding the down payments and use ARM's for additional loans.I mainly want to buy and hold but also want to have properties that will appreciate in value and can sell off every 4-6 years.I have about 115k in my 401k that my lender says I can use for reserves but was wondering how I can keep up the appropriate debt/income ratio so that I can continue to grow.I appreciate any feedback to this plan. 

Some small banks and credit unions prefer to kick any deal where rental income is needed to qualify over to their commercial department so they can swing higher rates, ARMs, and points up-front.You can get a 30YF Agency loan on a residential rental property, assuming no commercial characteristics (storefront etc), the property is in fanciable condition, and you otherwise qualify.

The following is my actual situation...property 1 (SFR, CA) rent: 1850 value: 362k loan: 113k payment: 850 rate: 4.375% 30yr fixed HELOC: 73k payment: 500 rate: 4.75%property 2 (SFR, Utah) rent: 975 value: 150k loan: 58k payment: 450 rate: 4.8% 30yr fixed property 3 (duplex, Utah) rent: 1050 value: 150k loan: 67.5k payment: 500 rate: 4.875% 30yr fixedproperty 4 (duplex, Utah) rent: 1050 value: 150k loan: 67.5k payment: 500 rate: 4.875% 30yr fixedproperty 5 (SFR, CA, Primary residence, parents renting) rent: 2200 value: 395k loan: 301k payment: 1900 rate: 4.5% 7/1 arm total assets: 1.207 million total liabilities: 680k net worth: 527ktotal rent: 7125 total payments: 4700 difference: 2425total cash: 30kown cars cash. no other rent/mort payment, credit cards paid to 0 balance every month...