I'm an independent agent here in AR and I write a lot of rental property, with ~6 preferred markets and if the properties have some issues, age, claim history etc.

The 401k is a valuable asset but its my thought that I can use this asset to further increase my portfolio by putting that money to better use.

With the exception of some small markets in the Southeast, places like Cleveland are the only major metro areas where a regular investor can find cash-flowing assets with a mix of appreciation. 

My number 1 tip would be to go off market and find owner that wants to sell at a discount / prefers speed and convenience. 

It would leave your net worth really skewed into one asset and class of asset. 

Look at all the above and more.History, experience, assets, ability to pay, collateral, references, credit score, etc.The more the better. 

When you build enough capital/assets/net worth to afford a reasonable monthly cushion you can see if the lifestyle of a full time investor is something you’d want to pursue.  

(We are working on a generalized survey to collect info on our buyers/potential buyers so we can make sure we understand who our customers are while trying to dial in their preferences and patterns.)You are doing great things. 

For long term, the main benefit is having someone else pay off the mortgage on an asset while you collect cash flow.

If this isn't required, then most likely having the GC sign a completion guarantee to ensure the project gets finished and lender is not stuck with a partially complete asset is the case.