Should I purchase this deal using 401K loan

[Duane Hundley]

A property just listed in a area I'm very familiar with and I have one property already about 2 mins away. The numbers on the property are:

•Asking $33k

•3Br 1 1/2 bath brick 

Full unfinished basement 

Carport 

•Loan numbers 

Purchase price $25k

Repairs estimated $3k

$416 a month 5% interest using 401k loan 60 month term ( I could possibly get financing and get a 10 year loan)

•Property Numbers 

Rent $750

Management $90 month

Taxes & insurance $70 month 

$174 profit not counting capx so net around $100-$120 a month

Thanks,

Duane