@Andrew PostellThe 60k 401k loan would be paid by my savings account each month. and the mortgage would be paid by the rents. 

I worked with two amazing Brokers (Travis and Patrick from Savvy Ent.) and an outstanding loan officer (Isaiah from Cornerstone Mortgage) who really helped pave the way.

I’m a mortgage broker and investor about 45 mins south of Cleveland, happy to connect!  

So the loan officer has no idea what they are doing likely because they have never written a mortgage on a condo. 

With a locked-in low mortgage rate of 3.2%, and about $100k in equity after expenses, I'm contemplating my next move.

I have seller with the following situation:$240,000 single family house$165,000 balance due on mortgage ($159k balance + $6k in past due pmts)$950/month (PITI) is the current mortgage payment @ 3.875%$1,400/month Market RentIf the seller listed the property, they would walk away with roughly $60k after commissions.

Do you run out of properties to buy, workers to do the remodels, lenders to borrow to you, cash flow to pay the mortgages.

Customer service does not really exist or it's not as communicative as Airbnb.

While you can invest your 401k funds into virtually anything, you can't direct/spend funds "anywhere"; some restrictions exist.

Can anyone give me some worst case scenarios besides me owing the $ back if it does not close for some reason AND if there is a way to protect myself in the purchase agreement from any worst case scenarios….There is no mortgage or realtors involved- only real estate attorneys.