This is on my mind a lot as well.

I'm sorry to hear that you lost your grandfather @Rachel JaneWith the condo, renting it out could bring in decent cash flow, but keep in mind the $800/month condo fees.

Transparency is key—being honest will help you avoid unnecessary stress and ensure peace of mind.

I have been to RE meetups in the past with like-minded everyday investors pursuing similar goals, sharing stories and learning from each other, running through numbers, sharing network contacts, and even doing deals together.

Shoot me a message if you are open minded to that!

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

Keep in mind that the sponsors with the longer track records and deeper bench of investors are unlikely to use some of the newer exemptions. 

Keep in mind my comments were given with only knowing the details you provided in a post so I don't want to come across as a know it all. 

If they change their mind, I put the property back on the market and look for a new tenant.

Here are some of the thoughts that crossed my mind during this time (and stayed around for the first year): This is a scamThis is too good to be trueThis must be illegalI could never do thisIt sounds too easyI don’t have enough money to get startedI’m not smart enoughI need a real estate licenseWhat if I mess up?