You can be fined and lose credit access for failing to obtain proper authorization before investigating an applicant's credit history.

If you decide not to increase rents for several years, you will be losing value on your asset.Remember, if the market begins to decrease, tenants will expect you to lower rents.Gino

The one in Lakeland, FL that turned a ghetto house into $1500 cash in my pocket, the call from Kissimmee, FL that has a $10-25k flip potential, and one message asking to take their name off the list (which is better for me because I don't want to spend anymore money marketing to people who have 0% response rate anyways).Just be light and conversational to your sellers and buyersYou make your money on both ends of the deal, so negotiate the heck out of your seller's price (but be respectful and don't risk losing it) and use a realtor to give you true competitive comps on your sales price so you have supportive evidence for your price and cant get haggled too far down by your buyers, because they will try.Every cash buyer on my list wants their deals to be acquired at 70% of market value, including purchase and rehab.

Although I love these things, I don't like the noose around the neck feeling of the debt and many years of hard work to pay for the toy that loses its value quicker then you can pay them off.  

I have a property in my sight and just need to submit an offer.

You know they are unlikely to lose their job and calling their CO if there is a problem often times help resolve the issue very quickly.  

His rents are way under market, the only people who are willing to rent from him are those that can afford that low rent, he knows the judge who does the evictions on a first name basis, he cannot afford to ever repair his properties, and he is seriously behind on property taxes to the point of losing some of them.Not only that, but despite being 70, he mortgaged his home recently to cover debts from the slumfolio, to the tune of several hundred thousand!

The though of losing their deposit however usually is enough to get them to clean up and fix.

There is no point putting it into the plan in the first place if your only intention is to pull it back out immediately in a loan.For someone who has had a 401k for some time and contributed over many years, this "hidden cost" of losing the deferral basis of the 401k funds is acceptable if the use of the borrowed funds will be of real benefit such as getting them started in real estate investing.  

If that happens you could easily have to fork out $5,000 to fix the place up (Speaking from experience here), plus you could lose that rental income during this period.