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.

My company (Guaranteed Rate) was letting appraisers use Facetime or Skyp to see the interior of the property, for instance.A few weeks after we instituted this practice, Fannie Mae and Freddie Mac came out with clear guidance:If your landlord is doing a "cash back" refinance (taking more than $2k of cash back or paying off a second mortgage that wasn't used to buy the property), a traditional interior inspection will be required.If they are not taking cash back, for the most part "desktop" appraisals and exterior-only appraisals can be used.

As a new investor with my first investment property under rehab, I am actively participating in the work with my contractor.

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that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken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

It would probably work best with an individual/private lender who you have a relationship with and would be willing to fund it quickly than it would with an institutional HML that is going to take time underwriting the deal, etc, before giving funding authorization. 

Dolf and Trina,Have you guys looked at participating int a syndication in the area?  

I would not recommend doing a JV as that takes active participation from all the partners.

Regardless of who actually runs the fastest or scores the goals, "you're all winners just for participating!

Alliance Wealth Builders, Inc. specializes in helping individual and institutional investors from around the world purchase turnkey, cash producing real estate in the greater Birmingham, Alabama area, and other key markets in the State of Alabama.

Shunting the hassle of owning rental properties, many of these investors, as well as new participants, are turning to REITs for investment diversification.