It's mostly just about the numbers.The most important factor is the debt-to-income ratio which determines how much you can afford. 

One factor that I don't know enough about is the potential change to my property tax- I'm assuming that the property gets reassessed, but how does the new value get calculated?

I want you to get rich in real estate, but this deal sounds over your head, but we don't have all of the facts/factors. 

But even with that factored, I would jump on that deal if it were me.

Once you factor in all those expenses, it becomes more tricky to find a property that is going to cashflow well and make you a good return.

Even what type of rentals you might do when you depart can factor in.

@Justin Petrides it won’t be hard at all as long as you remain in the same line of work, how your paid is also a big determining factor in this scenario as well. 

., tax-free earnings) money.401k participant loans may not exceed $50k.The actual determination of which is optimal depends on an analysis of both objective and subjective factors, taking into consideration all possible configurations and their respective tax and investment implications.

@Arun Kumar Balasubramani There are many different factors.

I estimated that it was worth $183,000 based on a few local factors and the sellers scoffed and stated their number was $215,000 once it went on the market.