If you tap a loan from your 401k it will be low interest, won't show up on your credit report and be low payments as well. 

I do have a good amount in savings to put down a 20% down payment.

Is it to payoff the property and have income without mortgage payments?

You will likely need to establish an account and file a monthly sales tax report and payment.  

Unfortunately rent rates are not set by the amount of their debt service payment, but by the market.  

I will be 42 when the last mortgage payment is sent off. 

Our total out-of-pocket costs will therefore be around $7,700 ($3,700 down + $4000 rehab).The numbers look like this: Rent $650 Loan payment $345 4 years @ 5% HOA $130 Insurance $13 Property taxes $67 Maintenance + CapEx $80 For new windows and HVAC Cash flow $15 During land contract Cash flow $361 After land contract Cash on Cash 56% After land contract ROI 48% During land contractAs the numbers show, there is virtually no cash flow during the 4 years the loan is being paid off, but the return on investment from principal pay down is almost 50% PER YEAR.  

They are as followsThe 3 are all located in Phoenix, AZ and all rented1: paid $180k was rented before it closed, paid cash with an HOA of $200 monthly and rent of $13002: paid $135k was rented in 1 day, paid cash with an HOA of $200 and monthly rent of $11003: paid $215k rehabbed total $260k mortgage on property is $100k with payment being $800 a month, and HOA of $50 a month rented for $14754. looking to buy a house in Colorado, where I will rent it out and also live in it.

I'm almost done saving enough cash for the down payment and rehab costs for my first BRRRR.

I think this is twofold, one because the prices have been driven very high (and I'm late to the party) and the FHA payments usually are also higher (including insurance, etc.), and two because it's difficult to get the FHA loan on a property that is 70-80% and needs repairs, so nothing from my current wholesaler contacts would work.