Even if its not a big win, it has been a hair pulling, daily crying jag, killing the GC dream inducing, learn the hard way, LEARNING experience.  

Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).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).If you are self-employed with no full-time employees & you can rollover the funds, you could set up a Solo 401k, rollover the funds and take a 401k loan from the Solo 401k.

The property is vacant, needs extensive repair, or there may be environmental, location, or structural issues.

Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).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).If you are self-employed with no full-time employees & you can rollover the funds, you could set up a Solo 401k, rollover the funds and take a 401k loan from the Solo 401k.

Also, since the lease expires at the end of April, there might already be an extension in place that could preclude me from doing any reno work.

One is an extensive turnover and the last unit is a total rehab.

The extensive work was impressive from new electical, sheet rock, plumbing, windows, etc.

My business partner and I have been doing extensive amount of research in starting out in REI for the last 4 months and have been saving money to be ready.

If the hair on the back of your neck is standing up then you already know the answer. 

We have extensive small hotel management and marketing experience, local financing is lined up at 3% interest.