David trying to decide whether to elect S-Corp status or leave as partnership for the LLC. 

Make sure when you are electing BRRRR as your investment strategy that you have talked to lenders so you are prepared to refinance the property. 

Please note that per the multiple loan rules, the amount of the loan must be reduced by the highest outstanding balance of any other 401k participant loan over the prior 12 months (regardless of whether such other loan is currently outstanding).Monthly or Quarterly Payments: The loan must be paid back in equal monthly or quarterly payments of principal and interest.Interest Rate: The interest rate is equal to prime plus 1% (or CD rate plus 2%) and is a fixed rate that is set at the time that the loan is taken.Term of the Loan: Five-year term unless the proceeds of the loan are used to purchase a primary residence in which case the term of the loan may be up to 30 years.First Payment:For monthly payments, the first payment that would otherwise be due is delayed until January 2021 (e.g. if the first monthly payment would have been due on May 15, 2020, it will be due on January 15, 2021).For quarterly payments, the first payment that would otherwise be due is delayed until the first quarter of 2021 (e.g. if the first quarterly payment would have been due on May 15, 2020, it will be due on February 15, 2021).EXISTING 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.If you meet the above conditions:You may delay making any 401k loan payments due between 3/27/2020 and 12/31/2020.You must commence making loan payments in January 2021 (or the first quarter of 2021 if your loan payments are due on a quarterly basis).If you elect to delay making such loan payments, the term of your loan will be appropriately extended.

If it meant that I could just get the ball rolling.So my question is, should I still consider doing a BRRR given the current market?

Tough times are meant to bring out the best in us and I can reassure you, you're not alone in your troubles. 

The market is unknown at this point, and for a newbie investor, with COVID and in an election year, and you just starting out, if you have plans to not settle in the Tampa area right away I would suggest waiting until you’re closer to actually being here.

It is NOT an "all or nothing" This is not meant to be denigrating in any way, just an observation.

It's also best to do it now before FHFA reimplements the adverse market fee starting Dec. 1 which will cause rates to go up and before the election. 

Actually what I meant by that is I can’t quit cleaning and just hangout and be a stay at home mom and not contribute to the household.

We have about $20000 liquid for what was meant to be a down payment on our next home.