I've asked many others and know the pros and cons of doing so, but I'm curious of your personal opinion about it too.And thanks for the much needed luck!

Wanted to start thread on pros/cons on using a 401(k) loan to finance real estate purchase. 

Hi BP Pros!

I cannot refinance because property value is still lower than the mortgage I owe on it.If I sell, I'll have to bring money to cover the selling cost plus whatever the difference between selling price and the mortgage I oweHere are more facts:Purchase price: $310,000Currently Owed: $230,000Monthly Payment: $2009Rent: $1950I would love to hear from pros in here, what would you do?

I continue to study the pros and cons and have contacted the local housing authority so I could ask some questions, but I would really appreciate it if any Section 8 landlords in the Virginia area could give me some idea of what to expect of the locally run program.The following are some of the inquiries that are most intriguing to me:1.

Erentpayment pros to me is it has more options, it can report to the credit bureaus if the tenants choose, and it can automatically add a late fee of your choice after whatever day.

My 2 exit strategies Im debating on would be 1.) cash out refinance and rent out the property and use the funds for next deal -or- 2.) flip it and move onI understand both options have their pros and cons but really want to build long term wealth as well as have capital for other deals. 

I'd like to take credit for the strategy but honestly, it was a culmination of advice from some property investment clubs and pros familiar with the market here and have experience with the strategy and legal advice.

Now, you might see why real estate professionals, agents, operators and real investors see wholesaling as the bottom of the barrel, deal makers, straw men, con artists, scammers and whatever names might be used by the pros. 

I would also like to discuss the pros and cons of owning a rental property free and clear.