Getting approval from the lien holders is tough enough, but if it's a regular bank they may not make it feasible to assign the contract.

The tough part about it is that I see kids that goes to private and does nothing with their lives after graduating.

10 months at your current job is not too bad if you're a permanent full time employee and have a good prospect of staying employed.

Ultimately, it is up to us to do our due diligence with the options presented to us and in very tough margin markets like LA, more options do not hurt.

Super tough call.

This isn't the response you are looking for, but don't buy into a hot market.That being said, its tough to give advice without estimating purchase price, remodel cast, ARV, and how much it could rent for.

For the most part there has to be a reason a home is selling for a discount, the seller needs to be in a tough spot and when their property can sell for asking they are less likely to be in a tough spot.I don't think there is any problem with having multiple low interest 30 year notes (in fact that is probably the ideal). 

I have found good ideas are easy, successfully executing is tough.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Alternative: Rollover Funds to A Solo 401k & Take a 401k loan or Invest in Real Estate DirectlyIf 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 [NOTE: You generally can't rollover funds that you saved to your current employer plan until you quit.].You could then take a loan of up to 50% of the balance not to exceed $50,000.

If the house wasn't a part of the equation and the family came to you and said out mom is in a tough situation, we really need $35k would you donate that money?