Hi all BP members, My parents currently own an investment property that is fully paid off.

@Stephen Foltin yes my partner and I have borrowed from his parents and other private lenders. 

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that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken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.

No advertising needed, parents picking up their kids from school saw my sign and came over.

And my parents lived there until recently. 

I had tenants whose parents were “assisting” them with their rent and they just could never make ends meet.

My parents still lives in Alexandria, VA, very close to Kingstowne as well as Springfield, VA.

A friend from high school contacted me about how her parent's have a rental in my town.  

My parents just bought a primary residence on more than 5 acres and aside from working with zoning/planning, we're not sure where to start.   

Any help will be appreciated.When investing out of state, a common strategy is to create parent and subsidiary LLCs.