And this property would not pass for FHA because it does not pass the SST (Self Sufficiency Test). 

I think we can have the senior guy on the acquisitions desk take the lead on the renovation on this project (he has been wanting to test what he's learned in the last year & a half); I think there is enough margin here where it is worth taking the risk & doing an out of home market renovation.Here are the assumptions I used to arrive at this conclusion:1.

But I didn't have a chance to test maintenance feature yet.

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

Make sure you get a minimum of 12 mil wear layer (20 preferably) and do a scratch test before you buy to make sure the product will hold up to abuse.

The true test is six months from now.Source:https://www.redfin.com/blog/home-buying-demand-gets-stronger-amid-pandemic/

It would be an easy way to test your theory about what the rent should be for each unit, anyway. 

Maybe post your question in the Oklahoma forums and you'll get people more into the business than I am.https://www.biggerpockets.com/forums/578-oklahoma-real-estate-q-a-discussion-forum 

Does anyone know how much it would cost when I'm all said and done with tests/classes/fees and everything in between?

Especially tips for the tests?