In the last years, the rent amount on a BRRRR property has become the defining factor for the loan amount.

I was in a somewhat familiar situation last year when I started in sales.

I did that when I built my modular home in Alexandria last year.

The issue I'm running into is that I made a claim last year due to the hailstorm here in Austin.

I think by far the most important question here is what do you want to do/what are your goals?

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).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

The last post I did here in BP brought me SO much knowledge and wonderful people who have extended a hand to me.

Once you can answer all these, and develop a long-term plan, pick a market that accommodates your goals as well as your budget and criteria.

We have mostly used this as a vacation home but I have been living in the house full time for the last 2 years. 

My goal is to eventually purchase my first investment property by way of BRRR, househacking, or any other method that makes sense.