I'm new to real estate investing and I'm exploring the idea of using money that I have tied in a 401k retirement fund in exchange for an investment property.  

I'm looking to the group for creative ideas that I can use to attract preferred equity to recapitalize an existing portfolio.

Its always a good idea to talk to the building dept about what you want to do before you start.

The Nest thermostat is a great idea Joe.

I merely want to know about reference materials on this subject and is my idea doable? 

v=OQ5Q7_2AaMk) I'll upload 2,000 property addresses toMozenda, teach it what to look for & run the program when I leave the office.

You mention the owner has paid $70k on the mortgage but that isn't a number that matters (since who knows what interest rate he's on or if he's made any extra payments), what matters is what the outstanding balance is on the mortgage and can you offer them a purchase price that is A) Fair to the owner, B) Helps them sell with some amount of equity and C) Gives you room that it financially makes sense.The numbers change based on if you want to flip it or rent it, making the question "does it make sense" different based on the direction you choose.In short, I have no idea how much I would offer...

Buying a college rental could be a great idea, if your going to college that is, that's up for debate elsewhere on the BP forums.

I've pretty much thrown out the idea of the 45k unit.

The house will be sold and we'll buy another commercial, office or again houses with that cash.