@Tom S.Yes I am sure.See IRS link below and see the discussion of 2nd loan involving "Jim"https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-loans

My wife also made it clear that if we were going to expand beyond what we already own, she didn’t want to be involved in managing them.

Obviously you can maintain a stronger presence and level of involvement investing in properties near you.

And there is also a hope component involved.

I involved insurance, remediation, restoration and they all did their part and finished in 2 weeks.

Are there going to be banks involved, creative seller financing or all cash? 

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

And this does not even involve business or real estate!

The problem now is that if you're looking to do a cash out re-fi (e.g. as part of a BRRRR strategy involving the development of ADU's), there typically are no comps for an SFR + ADU + JADU, so an appraiser makes adjustments to SFR comps and gives very little value to the ADU's. 

And I also see many questions popping up about running a short term rental business, which to me is more of a business than an investment although it does involve an investment in real estate.