Yes, but you will be subject to UBIT taxes. 

So, you still owe $50k back to your 401k.

The second would be to spread out taxes instead getting hit all at once from Uncle Sam. 

Don't forget to save up for closing costs, property taxes, insurance, and any potential repairs that may be needed.Start by connecting with nearby lenders or mortgage brokers to evaluate your financial preparedness and investigate loan possibilities.

Transfer taxes, recordation taxes, lenders title insurance, owners title insurance, closing fees, lender fees, appraisal, survey, deed prep, recording fees, insurance, escrow 

Take a “break even” sale before interest, utilities, taxes, insurance eat you up?

The book is saying open up multiple accounts for your business for the purposes of charitable giving, owner income, taxes, paying down bad debt, etc.

Is this a true 10% cap or is this what I refer to as the "realtor special" where taxes, insurance, water and a nominal maintenance budgetary number is included.

It’s in California and the tax basis is quite low.  

Assuming he/she does not sell the property at the end of 10 years, at that point will taxes be owed on the property's appraised value?