Hi Ryan, my start-up, Awning, uses AI and big data to help buyers source investment properties.

@Wesley Mullen,TL:DR- look at some differing viewpoints and make a decision that is best for and your family.Soap box ensues.I’ll give you what appears to be the sole dissenting view-the money in your 401(k) gets taxed as ordinary income when you withdraw it in retirement.

If so can the guardian be the sole decision maker on the sale of the property or does every sibling need to be involved?

Can you share where your next source of capital is coming from that you already have the funds to purchase the next one?

That might be one way to go if that is your only source of cash to start your REI.Also, some plans let you borrow against your retirement account so you aren't actually penalized (by the IRS).Good luck.

Will I need to buy new window units with a heating source or can I provide future tenants with space heaters?

I have an LLC where I am the sole member, and that LLC is a member of a separate partnership LLC.

., cash out 200K, buy a 2-plex for 200K for "cash" to make up for the negative CF of the source asset. 

Developing systems to source solid off market deals will help open doors to other things you need to ultimately be successful.

If you are wanting to take the money and pay off debt incurred while purchasing/renovating the property then you should do a cash-out-refi.... if you are wanting to take the money and use it as a short term asset source (such as using as a down payment on the next BRRRR deal) then you should get a HELOC.