An 88 unit apartment and former hotel in Huntsville, AL (Rocket City) to be extensively renovated as modern townhomes and corporate housing.

This is a loaded question that is near impossible to answer without extensive financial information on your client's age, responsibilities, income sources, other investments, insurance, medical needs, the list goes on and on.

The home will be undergoing extensive renovations for which the property need to be vacant for an extended period of time.

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).4) As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you are self-employed & select a Solo 401k plan provider which allows you to invest in real estate).

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).

It's also when you see some contractor run extension cords in the wall in lieu of romex or mc/bx. 

Hey BP Fam, I have came across a property that has some extensive fire damage, Not 100% sure how much in repairs it will take to bring it back to standard.

No one killed or injured thank God, but one will have some fairly extensive repairs with a few residents displaced.

It would be difficult to fully present my background and it’s extensive enough that I can’t imagine a small time real estate investor existing as the trade shortage and increasing regulations push them out.

However I was thinking, if I focus more on homes without need of extensive rehab - like only needs a fresh coat of paint, minor bathroom work, I can manage it myself over a weekend or a regular work week.