DC's housing trades at only 4.5x the time, making it amongst big metro areas, actually quite affordable.

Call trade companies and obtain a general idea of cost for a furnace replacement, new roof (by square, 1 square = 100 sq ft), water heater replacement, cabinet costs (often by linear foot), flooring costs (by square foot), counter costs (by square foot), etc.

I will hold this one for the awhile along with other properties I have in Houston, then once I reach a 4-5 Mill Net Worth, trade it all for a multi at some point.

If you are already being called to the unit to do repairs, do that annual inspection at that time and make notes of every possible deficiency or issue that could negatively impact your asset, do not ignore anything or avoid dealing with more than the service call, look for everything and try to anticipate the consequences.

He had this home for 5 years he was paying off the mortgage, now after two tenants that I have put though here, I owe around $177,000 the house is valued at $255,000-$260,000 I should make a good profit off this, but I am going to do a 1031 exchange to trade this up.

I have very much a trade background, mechanically inclined, average worker fitness and willing to use some sweat equity before my body gets too old.I’m understanding of the fact that no amount of “job security” is actually valid and you have to carve your own way.

That shouldn't trigger any tax consequences, but check with your CPA to make sure.

I DO HAVE ANOTHER QUESTIONS, ONCE YOU OBTAIN A LOAN AND YOU DECIDE TO QUIT YOUR JOB [WHILE HAVING RENTAL INCOME COMING IN] WHAT IS THE CONSEQUENCE OF THIS? 

If folks are buying in that subdivision and properties are trading then there’s no reason you can’t buy at a discount and flip for a profit.

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that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken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.