If you have a rolling portfolio, you can use losses from new investments to offset gains from an older investment.

Ah, but after the sunset, the dusk and the twilightWhen shadows of night start to fallThey roll back the sidewalk precisely at tenAnd people who live there are not seen again!

I would be completing Phase I Environmental Site Assessments as required by the lenders, and also mold, lead, radon, and asbestos testing as other service options.

Well my partner at the time ( who sat on a bank board) said we need to add language in the docs that if they do call the loan and wont roll to the next year we have 36 months to wind down operations before they can do any foreclosure or put us into default.. so in 02 to 04 when i was securing these loans.. the banks were fine adding that language and who would have thunk 08 would be such a massive melt down.. 

You can buy a place for $60,000 and feel you are ready to roll and some crack head breaks in and steals cooper that can net them $20 but costs 3 thousand dollars in damage.

The tax rolls, Zillow or market analysis, are often WAY off.And the licensed appraiser can be off buy a bunch, too.

I could also roll my 401k over into a self-directed account, but I think I would have to pay taxes on that immediately (I could be wrong) and just purchase and rehab the rental in from within my account? 

I could also roll my 401k over into a self-directed account, but I think I would have to pay taxes on that immediately (I could be wrong) and just purchase and rehab the rental in from within my account?

You could ask to see the rent roll or deposit journal and you could check 'rentometer.com' to see if rent is at market.

Once you look at the various databases and website and get a good idea of what you think it will rent for, I recommend running test ads on Facebook or Craigslist for a "like property" at that price point.