But one other concern - isn't the 401K loan due immediately if you lose your employment?

If you cannot cash flow well right now and a recession hits, you will lose a lot of money.

Lose with Substantial Authority.

ThId Is goIng to sound bad..but I’m not even sure you’d actually want to do this because if they become too financially literate they will ultimately become homeowners instead of renters and therefore you will lose your clientele

My understanding is that commercial properties tend to depreciate over time, only to be propped up with cashflow, and if you lose a tenant resale value tanks.

If you don't want to lose it, get it under contract and have it appraised.

B) we bought our first investment sight unseen.

The first investment is always the scariest regardless of where you buy, so having someone you trust to take care of a prop that is 'out of sight, out of mind (sort of)' can help with the transition.ConsThe flipside of the above coin is that you can't just drive by and see your property.

You should prepare yourself well before putting yourself in a position to lose money on something you know very little about.

In reality, the current owner is losing a lot of money every month.