I am self employed and have always been an entrepreneur.

Yeah, I'm going with the other applicant that has proven long term stable employment history, much more education to make it easier to find a replacement job, and all of who are high income and have seen the property, despite them not being the first qualified applicant. 

And you get tagged hard with taxes including probably self employment as well as ordinary income. 

Don’t forget to factor in for health benefits, self-employment tax, etc. the bank will definitely adjust your contract salary to make apples to apples comparison.

I've rented to self employed people before, but we require the last two years' of filed tax returns. 

You do want a property that is close to employment, is not in a crime riddled neighborhood, and possibly some type of visibility.  

If you are unable to borrow from your plan, or if you need more than you can borrow, then you may be able to take a taxable distribution if you are age 59 1/2 or older, or no longer work for the employer that sponsors the plan.

I recently changed jobs, and I have $187,000 in my 401k at my previous employer.

So you want to rent to guys that aren't paying taxes, an "employer" that doesn't have them on the books, why?

BBB's business model is extorting businesses.