It gives you some flexibility and time to learn where you want to end up.  

Plus Realtors have flexible schedules, where they can tend to their properties when needed.Keep in mind, if you successfully grow your investment portfolio, you can make more money than being a Realtor.

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

We have plenty of demand for rentals so I’m not worried about it staying rented and this gives me the flexibility to give a 30 day notice to vacate if/when that’s ever needed.

How flexible are you on timing?

The wholesaler is flexible on the fee as to whether it is all up front or some now and the rest (more) on the back end, depending on if the property is resold immediately or I lease option it.

That situation really gives you much more flexibility in tough times.   

But I'm quite flexible.

@Steven Soden I think that is awesome if you have the lifestyle flexibility to house hack, you definitely should!

If you want to develop it in the next 12-18 months then I'd say that it makes the most sense to use a construction loan from a local bank to purchase the lot AND fund the improvement.If you plan to hold the land ad infinitum then I'd pay cash to have the greatest flexibility and lowest carrying costs on the parcel.