Banks were holding worthless assets without cash to back them up.

I'd prefer to buy just one of these duplexes to start out because it would be easier to obtain financially.

I just got off the phone with the seller, obtaining information on the property.

You would be selling the Company with the property as it's asset. 

An investment agency offers to be an intermediary between a buyer, seller and a bank and to manage the entire process, including finding the best deal for the customer, obtaining the credit in customers name and managing the property once it is rented.

So you seek to obtain the property via Lease-Option and there are already tenants of the owner's present?

Id like an immediate wall of separation between our current state and our future acquisitions.I guess I'm not sure how to weigh the penalties and fees of a 401k loan/disbursement against the accumulation of future cash flowing assets (with the ability to refinance).

It just depended on the experience and financial strength of the sponsor, the length of time the asset was owned prior to the crash, and the leverage used.  

If you still have US real estate assets when you pass away your heirs will still benefit from the stepped up basis regardless of their residence so that shouldn't really factor into the equation.  

I have a great asset I found to flip and I'm looking for a hard money lender.