I would advise that you borrow about 25% more than you need from the 401K, then keep the excess in a reserve to use for making the loan payments.

I am not a buy-and-hold guy, but I network with 20-25 buy-and-hold investors in Charleston on a regular basis, and I wholesale my excess contracts to them.  

I have an up/down rental where the upstairs tenant is responsible for the electric bill.    Over the past two months, the electric usage has been high and they have been arbitrarily deducting from the rent payment wha...

Which is further exaggerated by debt sitting in excess of home values.

It seems everyone I talked to there was excessively overemployed.

@Richard Gaston Maybe the check will come from Nigeria and be for an excess amount?

What they can or may pay is subject to their broker's approval, in fact, everything an agent does in real estate is subject to their broker's approval as the broker has responsibility for that licensee.Back more to the OP's arrangement, that arrangement as to an exclusive agreement for 14 months is one I would generally not do as an investor, the term is excessive.

You can also break the lease for the lack of quiet enjoyment, after you document dates and times of interuptions, but they would need to be excessive.

You would either return the excess security deposit or send a bill for the shortage.Cleaning and repainting are reasonable expenses.

I think the banks are just over reacting to the excesses of the last few years plus there is a real fear our neighbors will pull their cash out.