I would only do that if you have a large amount of reserves, enough to cover this property for a few years and take the hit of any loss income (e.g. job) since the Fed is intent on creating a recession soon.Whether you intend to hold this property for a few years or forever, I wouldn't get the 20-year note.  

Also have you ever owned a property of this size and do you have atleast 1M in reserves for repair maintenance and capex buying a building is one thing being able to care for it is another

Normally I wouldn't say spend it all since you'll need some reserves, but since you have another source of cash flow I don't think it would be an issue.In my market each house, self managed, would generate roughly $400 net each month.

We know the roof is less than 10 years old too, so hopefully any large expenses will not arise for a few years, thus giving us a large amount of reserves after a few years.Here is the data:Cost of unit 40kRenovations 40kboiler:6800windows&doors:5000unit renovations: 16k (they are small and with them being low rent we do not want to go nice)Per unit: carpet &pad:1k kitchen and bath floor: 300 appliances:1100 cabinets/counters/sink:800 Bath:500 Paint:100 Doors:200balconies:4kdrywall work:3200misc expenses: 5kAnnual rent 19,200Annual Budget:property tax: 1800vacancy:800insurance:1030repairs & maint: 2400utilities:3600advertising:100grounds keeping:600misc:500Annual Debt service:5756

Aloha,Be sure you closely examine and understand the Reserve Funding Plan (and the operating budget) for any condos prior to purchase.

You can use part of the money to establish reserves in case things go sideways.

In it he says "Bond traders don’t fight the Fed because they know the Fed is the monopoly reserve supplier.

Lenders often look for a net worth equal to the loan amount and cash reserves at either some number of month's of debt service or some percentage of the loan amount. 

True unsecured loans ( and I have those from 3 different banks) are relationship based and for those with years and years of experience and decent balance sheets and cash reserves etc.

This would provide me the capital necessary to fund my real estate business and get it off the ground and also provide a conservative reserve for unknown expenses.Effectively, I'd be making the decision that I can actively manage my real estate portfolio in a way that will generate a return better than the stock market (index funds via 401(k)).I've been a passive index fund investor for years and the thought of decreasing my retirement account contribution is painful.