@Jim Walkerthanks for your figures jim. unless i get completely different numbers when i sit down with him, it would appear he's trying to sell me some pride and past sweat equity. i would like the park but i dont want to overpay and not turn a profit for 30 years. 100 dollars is about what it is locally. 4 or 5 parks in town right around there

There is sweat equity and there is paying for a service.

You cannot put sweat equity into the plan projects.The 401k may invest in long term properties, flips or notes, all of which might fit into they types of opportunities you will find in your market.  

I wouldn't be sweating this until you see if it arrives in Tuesday's mail.

Wealth can be had in real estate, but you will have pay with blood, sweat, and possibly some tears.  

At the very least you have talked us out of trying to do some sort of sweat equity/Habitat for Humanity-esque deal with my SIL and her husband.

That leaves flipping (and/or working part or full time as a RE agent) to build up experience and capital, or buying cosmetic fixers at retail and making up for it with sweat equity (zero labor costs) and patience, or trying to work a development project via FHA 203k (or its 20% equivalent rehab loan) if you can get such a deal under contract with a skilled mortgage broker to close it, or waiting until your eminent real estate downturn materializes and risking being wrong.

The assets we are seeing in the small multi sector in Seattle are largely outrageously over-priced, flips by cash investors who are in and out in a year or two and already took the sweat equity out of the property, or both.

Wanted money but refusing to give any service or sale in sweat equity.

-------------------------Account Closed One caution with 2/1 in all age parks... you are better off getting a 3/2 if you can. 2/1s sell in senior parks no sweat.