My uncle wants to sell me his motel.

As a beginner, you can learn a lot from your uncle with a few rentals in another state or a co-worker who's on their second house hack.

Unless the HML is Joe's Uncle, who knows nothing about RE, they are generally not going to lend you something that's guaranteed to fail which is the case using your original numbers.If you're not on the personal hook for any deficiency, or don't have any assets, you may have to just chalk this one up to bankruptcy and learn from the mistakes.

First, you could be punished for pulling the money (Uncle Same hurts people).

Quote from @Roger D Jones: Hi all,Just a newbie question seeking some quick insights on land development. 

Quote from @Roger D Jones: Bryan,Just so I have the basic assumptions correct this is a 10 space park with one current park owned home renting for $950 per month and 9 other unoccupied homes each in need of significant repairs- to the tune of 100k in total per the seller's estimate. 

If too many bad sub to investor screw up deals or provide false information to the seller we have see Uncle Sam come down with new regulations.

The max Uncle Sam allows is 50k if you haven't taken a TSP loan in the last year.I've seen both good and bad experiences with this but at the end of the day it's no different from any other type of loan, you are just your own bank in a sense.The downside or risk is that you lose your job, your property isn't cash flowing, are unable to pay back the loan, and your retirement account suffers since the loan essentially turns into a withdrawal.The upside or best case is you have the loan for less than a year, your BRRRR pays off the loan, and you pay yourself interest 5% interest.The opportunity cost is if the stock market goes up 20% and you were only paying yourself 5% interest you'll miss out on the excess returns. 

"I know a guy at work who's Cousins, Uncles, Aunts, Mother did it and lost everything in Real Estate, I wouldn't do it!"

Hello there Jon-Just took a look at the link you posted and let me say man oh man I do not know why uncle Sam is so pissed off.