Combine that with losing the value of compounding, usually makes 401k/IRA loans a losing proposition.

My wife and I drive a combined 10k miles a year, are those of you driving 15k miles each per year willing to pay triple me?

Combining these will give you the best probability to succeed!

Here's some quick info that might help clarify how rental income is taxed: Real Estate 101: How Rental Properties Are TaxedIt probably also wouldn't hurt to sit down with your tax professional and have him/her give you some expert advice specific to your unique tax situation.

I have a family member who has twice now purchased 5 unit properties, combined 2 of the units to bring it down to a 4 and flipped it. 

We can only hope for a big change in leadership, that the city declare bankruptcy and cede its political power to the county and state, some kind of large federal spending program targeting poor areas or some kind of combination.

If you really think once your first couple tries spending time listing, showing, and then trusting your gut along with a couple books you read is going to be a magical combination, do it. 

Here are the terms of the proposed deal:What I put in/get:- I put in 150k cash- I put in the original idea and there are some legitimately unique elements to the community. - I put in countless hours as the developer working on the concept for a long time I found the site, did a lot of research to identify a unique target market. - I'll be doing everything that needs to be done that my partner doesn't do, including marketing the units, ets., raising additional needed capital from pre-sales and investors, dealing with accountant, etc. - I GET 70% of the company and profitsWhat the builder puts in/gets:- 10k cash, mostly for good faith- The LLC/Partnership will rent his construction company for the duration of the project.

Every person is unique and different and unless you hold securities licenses or are a CPA, I would remain extremely broad.

The military has done a good job at preparing us for 'what comes next' and planning for long-term strategies; we just have to apply that to our own unique situation.