I tell people if they can match their current rent or do better then it's likely worth it, but you may need to get creative on the cash flow part if you only plan on living their a year or two.

@David Lewis if you wanna chat rental rates and market specifics in some of the micro markets mentioned above I'm happy to.

Specifically, must this be a commercial/business loan type where you have higher rates and shorter loan life or is there an alternative loan type? 

Make sure they know you plan to publicly point out to the local newspapers, Mayor's Office, and anyone who will be campaigning against them, just how stupid and lazy they are. 

And are there any specific permitting issues popping up post-storm?

But I plan to go there to see and know the city in general and different neighborhoods in particular.

Rent control laws are market specific.

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.

It's definitely one of those issues that is very specific, and would need to be worked out with Planning.

I the understand the wiring for this specific purpose equipment can be considered with the tangible property.