They are partying, drinking, playing loud music, burning their BBQ, smoking, and throwing up all over the carpet and couches. 

Those funds you can use as you wish, the loan has to be paid back within 5 years using amortized schedule.Properties you purchase in your 401k belongs to the 401k and you can't transfer, sell or convey them to you or any other disqualified person.

It's not for the faint of heart, or an easy cup of tea to drink. 

I say take a deep breath, step back, have a drink, chill-out, then approach the situation in a way to answer everything with MATH. use math, data, details to say how good or bad each property is, and to dictate what direction should be. 

Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away.

I agree that's true but kind of a mute point imo... if you're concerned with the pex leaching chemicals then you should be concerned with the piping that city water travels in before reaching your pex lines and the quality of the city tap water in general.... as well as anything you drink that's bottled and any food that's bagged in plastic even those labelled as food safe which have been shown to leach chemicals.

Hey @Robin Evans, To answer your question in a sentence: This will be "long term" income. 

This might mean asking for personal guarantees or using assets like personal belongings, investments, or other valuable items as collateral, aside from the property being bought.

For anyone who reads this and is contemplating paying for one of those courses, don't drink the Kool-Aid!

If the tenant's belongings were damaged and they have renter's insurance, then they should file a claim.I agree with the others that you should find a contract that can fix this much faster.