You will still have to pay it back, and I'm betting the interest rate will be higher than the interest rate you're currently paying.Depending on your plan rules, there may be additional cons for borrowing from a 401k.  

Im not sure what a power team is but I bet you can invest in real estate without one.

Magnetic dimmers will cause flickering The safe bet is to pay attention to the packaging of both lamps and dimmers, it's well advertised what they're capable of on their packaging. 

I've been able to win dozens of clients in the past by betting them that I would find errors in their tax returns if they would let me review three years worth of returns.  

Even though ACH transactions can transfer money in as little as 1 day, it still can take 48 hours to get rejects on some transactions, so the safe bet is to hold all transactions for 48 hours before forwarding them.  

Your best bet is to applying directly to underwriting for a pre-approval. 

It really depends on the area.The important thing is that the property cash flows.Your best bet is to run the numbers using the calculator to see if it works or not.

I'm not sure that positive cash flow at $400 a month is a safe enough bet. 

Looks like some deferred maintenance but not falling down and I'm betting with some smart fix up money thrown at it the place you could easily get $600-$650/month unless it's in a bad part of town.

@Aaron Trudgett: While probably not what you want to hear your best bet is to join the local REIA, meet other investors in the area and ask.