Although I am looking for a property close-ish to home I don't know that I want to be going out there frequently to manage it. 3) If I'm looking for a bank to finance a loan should I be looking in the state in which I live or the state in which I'm investing?

Nothing in this section shall prohibit a landlord from entering into a written lease that requires the quarterly or less frequent payment of rent; provided, however, that the security deposit received in addition to the initial rent payment may not exceed the equivalent of one month's rent. 

:-)  One of my most frequent private lenders is 78, and a number of my apartment investors are in their 70's.As @Dmitriy Fomichenko mentioned, the key to using your 401(k) money is to have it in a self directed IRA that lets you invest in assets other than stocks, bonds, and mutual funds. 

@Jeff Hudak, yes I do this frequently as part of my practice.

Consequently, you can check up on your properties more frequently that I do so that can help (a little) to de-risk absentee ownership.

Guardians and Trustees also frequently sell properties to fund retirement for their elderly clients. 

I've messed up a handful of times over the years, but an occasional misstep is not considered co-mingling as long as it is not frequent or habitual.In this way, you'll preserve your entity protection and make your CPA happy at the end of the year with all the perfectly managed bank accounts and each property with its own reporting.

They lost their home to foreclosure and asked permission to move into this cabin temporarily as they knew it was a vacation rental that the owners didn't use frequently.

When putting together a budget to rehab a SFH, what % of that budget will be the labor cost when having a contractor do the work>Also, what type of kitchen flooring is used most frequently when rehabbing kitchens and baths, tile or vynal and why?

Mine was spent shop vacuuming a basement.