Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

Financially, it had to be done, we were barely covering costs on inherited tenant units, and we knew we could charge so much more & stay in the black with new tenants due to current market rates. 

Even giving you the benefit of the doubt and taking your $500/month cash flow number, your ROE is barely 2% [ ($500*12) / $290,000 = 2.1% ]. 

Their incomes are barely nothing so the rent has to come from the 2 cosigners. 

The house is in a premium area and over the years it has appreciated but when I calculated the cash flow, it barely pays the mortgage.

This is my first post so bare with me..I have been working on automating letters that go out when listings expire and cancel.

You may wish to confirm that the new 401k provider will handle the ongoing compliance support such as any required 5500 filing (e.g. 5500-EZ for a one-participant plan with assets in excess of $250,000), any required tax reporting (e.g. 1099-r in the event of a distribution or in-plan Roth conversion), mandatory plan updates and amendments, etc.4.

Looked it up and barely understood the gist but, bottomline, banks can screw themselves up and then come after our callable or rate-reset commercial loans to make up for their screw up.

For a lot of us that have been here for years, I have seen the inflow of new investors participating on the BP forums grow massively!

This way you can still participate in the profit and also learn at the same time.