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.

🏆 Another Investor Found His Match!

She spoke to my wife about owing us $300 and my wife was confused and told her she didn't owe us $300.On 2/3 I text her she owes us the $150 for the first and second, I have her security deposit, and to return her last set of keys (which she is returning late).

It's good that there other units renting out for that price in the area because it means you may be able to match our go higher.

If you keep 1 account per rental and set up tracking categories to match Schedule E for your rental you can categorize them in the bank account and print out monthly summaries, year end summary. 

I can't give you a short answer to really share my real examples to best match this post .

Wow, I am assuming these bidders are losing their deposits? 

FEES:Rent: $700Utilities and High-Speed Internet: $75Optional Garage Parking: $50 (or plenty of outside free parking)Security Deposit: $700Property Features:Private Bedroom: 137 sqft unfurnishedHome and Kitchen: Fully Furnished and EquippedMonth-to-Month Lease (pay online with checking account or credit card)Furnished Private BedroomFlat Rate UtilitiesFree Storage AreaFree ParkingFree Planet Fitness MembershipFree LaundryFree Planet Fitness MembershipPets: stay in owner's room or accompanied in backyard.Private Room Occupancy: 1 personVid Tour: (coming soon)Lease Terms: Month-to-Month 

It would take five years of loss to match the amount required to renovate the unit.

Im was also wondering about the lease changes, notifying the tenant of the changes and new payment info, how and where to hold deposit etc.