I used to work for a software company that had employees in Missoula, so from what I know the market there is even more on fire than in Iowa.

The first question is are you a W-2 employee?

I am the only member and there are no employees but my name will be out there as the face of the company working with the tenants, contractors et al so want to be covered in case someone decides to sue me or the PM company.Thanks so much.

Now, if you sell the property and do a 1031 exchange into 2 or 3 properties, you can delay the taxes and you can invest more (@Dave Foster could you fact check me and make sure I'm not leading Matt astray). 

@Sandy EugeneIf the money is in your current employer plan and you saved the money from working for your current employer, you generally can't take the funds out of your 401k until you quit your job.As an alternative to taking a distribution from your 401k, consider the following:If you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job.You could then take a loan of up to 50% of the balance not to exceed $50,000.

@Dave Foster is who you should talk to.  

Are there any new employees moving in there?

It felt like a manager/employee situation from the get go.

But now we are considering hiring our son as an employee of the S Corp to help grow our rental investments.

If you lie and say you're a W2 employee and get caught, mortgage fraud doesn't look good on anyone's resume.Hope that helpsStephanie