What you won't be able to do is get a check for the EM or anything else sent out until 1) the money from your 401k lands in your new account and 2) they wade through their process for issuing a check and send it out.IMHO, what you're trying to do is a VERY bad idea.

Kris- it's Ashland area - downtown location- mile from commuter rail- 6 miles from rt 9- 30 min to Boston- the apartments are in pretty good shape - some more updated then others - the tenant quality is a C at best... but the units are small 1 Bedrooms so I've been hesitant to put too much work into them other then general maintenance...

Josh lives by Redmond, WA where land values are through the roof.

We are going through the survey and getting the land subdivided right know and I know that will be a question coming up soon.

I'm kind of in a holding pattern now, as I have a piece of land that I bought for the wrong reasons a few years back, and I'm de-prioritizing it as a vacation spot and trying to get the cash to invest on my 3rd property with.

You are in a lot better shape than you know. :) Good luck!

And no, I didn't build the house, just sold the land.

It's a 4br 1.5 bath rowhome, needs some updating but it's not in bad shape at all and has a parking spot, which is a rare thing in this area!!!

I've got a 17 acre parcel of land I bought in 2010.

If you can land something that fullfills 50% rule criteria and at least breaks even, you will most likely be making a good decsion.