The risk is that the market turns quickly and your ARV assumptions are too rich and leave you with less profit than anticipated or even costing you to sell it.

Flipping is more challenging and risky than buy and hold.

Their "value proposition" is to provide a system to help become a successful wholesaler. 

Most importantly it is not an either or proposition.

Again, my firm wouldn't touch a return with nine K-1s for $1,100, but I'm confident in my value proposition and the service I provide.

Would certainly be the simplest, cleanest, and least risky avenue.

In addition, the 401k loan is risky because if you lose your job, that loan could become due immediately.I would leave the mortgage because that's a great rate.Paying down both these pieces of debt will certainly free up a lot of monthly cash flow, which you can then save for a down payment.

You can then do absolutely nothing as our law does not allow you to attach a judgement to his homesteadI can think of a couple of ways around this but I am just illustrating how risky this would be in Texas 

If you refinance out maybe 50% of the appraisal, I think you could get it approved as the banks risk is less.  

If you can point to a proven business model that is de-risked to a large degree with a sponsor team with a track record of success operating together on the product type you're presenting this is a lot different risk/value proposition than if either the product type is new to you, the product type is new or a hybrid, or your team is new.