@James WelcomeIt would be best you send Laura a message about it.

Hi Benedict,I am a tax consultant and although 401k's are not an area I specialize in, I am almost certain that if you have already taken out a 50k loan then you will not be able to take out another.

If you want to hop on a call, send me a private message and I'll share a link with you to schedule a time. 

By the way message me if you need a referral for a servicing company.

Private message me.

He has a few other offers, but from what he described, they didn't really provide him with a formal offer, more like a brief email or text message, which I think is even weaker than a purchase LOI.He has started to counter. 

I receive lots of messages and am reached out by quite a few of out of state investors.

Talk with @Scott Smith for specialized advice on how to properly setup this.But, in short, you need insurance regardless, and you might want asset protection if you have cash flow and/or equity to protect.

But it will send a message that smoking is unacceptable when I hit them with the charge of $25 for each cigarette butt. 

You do not want to ever treat tenants like they are special people.