The owner, a family member of one of our buyers, inherited the property through probate, but they weren’t equipped to handle the renovation.The house had been left in disrepair for quite some time, with the previous owner struggling with mental health issues.

Account holders can't take any write-offs personally for investments made in the 401k.

HI @Kaushik SarkarI would suggest going to the top of the page under LENDERS and then answering a few questions and from there you will be connected with 3-5 lenders and you can discuss whatever you want there. 

I read through the entire 5 pages here and I am very thankful for all of the feedback everyone has given.

Go to your secretary of state to look up the LLC.  

I would go with the one that is the specialist in the area.

But, this being a larger syndicator they do have professionally made presentations and due diligence documents for you to look through.

#McCormickI have some Youtube videos (link in my profile) that will help with some of your questions and I'd be happy to have a call to help walk you through the market and what you should consider when looking here.

To the bank it's a good deal because there's 40% equity in the property.

You may want to start with the BP agent finder for those markets and then work with them to find good PMs and lenders.