I can repay the loan in less than a year and really want to get the property off my books. 

Anyone who holds 25% or more of ownership interestGuarantors shall be joint & severala. 1st position mortgage of up to $1,000,000 on the property located atc. 1st position UCC-1 Fixture filing on the propertyIf the Borrower repays during the life of the loan, the prepayment penalty will be assessed as follows:5.00% in the 1st & 6th year, 4.00% in the 2nd year and 7th year, 3.00% in the 3rd year and 8th year, 2.00% in the 4th year and 9th year, and 1.00% in the 5th year and 10th year.Notwithstanding previous paragraph, the Borrower will be afforded a 90-day window before the end of each 5-year period to refinance or pay-off without penalty.$2,500.00 1.00%Thank you.

If it were a traditional Tri-plex, I would allow my normal protocol but this is unique to me and I feel I'm not thinking of something.  

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

We know that working with pre-foreclosures can present unique opportunities to create win-win situations for the seller and investor alike.What do you think are the best practices for hunting down pre-foreclosures (especially during this time of social distancing in 2020)? 

I'm in a unique situation where I need to pay the deposit to unlock the design and engineering plans to get the project's official financing approved.

I have saved up some money for that and want to make sure the numbers are not off before venturing into it.all markets are unique and Texas is at least for the lower value assets 150 to 300k pretty low margin area.. where builders just slam out the houses.. so if they make 10% on a 150k but build 100 of them a year.. pretty competitive there and you can build as cheap as anywhere in the country in Texas from what i see.. heck I pay more in building permits alone on some house than a builder in Texas will pay to build the entire structure :)  good luck. 

I feel as though I have a unique advantage being that I am a licensed building engineer and HVAC contractor.

Unique situation which required a lot of patience and some terms most investors wouldn't be interested in (extended closing timeline, rent-back to owner after close, etc).

Unique situation which required a lot of patience and some terms most investors wouldn't be interested in (extended closing timeline, rent-back to owner after close, etc).