Still learning the ropes and looking for any advice on my first potential deal.THE PROJECT...I found a unique vacant lot in Southern California on Zillow... and by "unique" I mean ~1200 sqft total, triangular-shaped, with a misplaced gravel alleyway cutting through the middle of the property. 

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).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

And I do want to keep an investment property in the area to take advantage of the unique market here. 

Here are a few tips to consider on your journey.1)Find out where the local RE clubs are and figure out who is doing well in your market & who has been thru a few real estate cycles.2) Learn how to use a financial calculator (HP10bii) & how to apply it to investing.3) Study how to negotiate.4) Learn how to sell 5) Study Marketing6) Understand title 7) Learn how to value a property8) Nurture relationships with potential investors & private lenders9) Learn property management skills10) Make it mission to become extremely unique in your market on solving problems that will pay you well.

My CPA converted it to a $1200 repayment.

Each tenant living in a building has their own unique rent amount, so even if they do not leave a notation with the rent payment, I know whom paid the rent based on the amount alone. 

Adjust what you need to, ask family and friends for a quick loan with a written agreement to repay if possible, keep at it. 

I think house hacking gives you a unique opportunity to get a single family to cashflow. 

I can't repay the 135k loan within a year and this being my first investment deal just worried about things going wrong.   

I did find a contractor that offers a 1 year no interest loan which I will most likely leverage that opportunity stretching the repayment bills out over 12 months (helps improve all cash flow).I appreciate your energy and time.