If you default on any of the payments the seller gets their property back plus improvements.

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).

Your income must be able to service a mortgage of $835K plus the insurance (default) premium.

Logically person in default should be responsible for all other debts, but I want to clarify.

The owner is worried that if there would be a default on the loan he would have to go through hell and high waters to get his deed back; understandable we do not know each other.

We do, by default, collect more as rent goes up.

My parents received a notice of default (NOD) on their mortgage several years ago and then filed for bankruptcy which cleared several judgement liens from the house, leaving only the secured mortgage loans. 

I found a foreclosure property on MLS that has been on the market for 381 days and was wondering if anyone has any experience in purchasing a foreclosure-notice of default property through MLS and if they can impart any words of wisdom as to how I would make offer and what kind of offer would the bank be holding off for?

Also, note that Hard Money loans don't show up on your credit unless you default so you can still employ your house hacking strategy of holding a property for one year using a conventional loan.3.

But beyond that, if it's on the settlement statement and not a proration or a prepay like rents or a deposit then it's part of the 1031 by default.