As a checkbook holder and trustee, you have the control to fund these investments and the decision making authority to structure deals to your liking (shorter term, higher interest, etc.)I'm sure it's just how you chose to word it, but I will caution you anyway that "becoming a lender" sounds a bit like a business whereas what you are doing instead is directing your 401k to make passive investments.The key needs here are a way to contact and negotiate with those who may need loans and some appropriate loan paperwork to outline the terms and secure your 401k's interest in the investment.

(I sure hope your out-of-state experience goes up from here.)BankruptcyIf the tenant files bankruptcy, the eviction process is subject to the automatic stay in the bankruptcy case, and if an eviction action has been filed, it will be dropped from the State Court’s docket to be reset if the tenant’s bankruptcy case is dismissed.When a bankruptcy case is filed, we usually negotiate a Consent Order Conditionally Terminating the Automatic Stay.

Do what is average to the subject property in that neighberhood.Always remember to do the math analysis and try to look at the property before making an offer, especially on the first ones.  

Any investment in improvements would have been capitalized as basis and thus subject to depreciation recapture.It is not an all or nothing transaction however - you can do a partial exchange, but will owe tax on the amounts not reinvested. 

Been doing my newbie research and came across an article about Offers Subject to Interior inspection.  

For people familiar with the pockets, what you should do is outline the streets/areas you like and then follow everything that comes on the market/sells.

One way to broach the subject of whether they are leaving is by confirming that they will be out by date X because you are advertising it and want to show it then. 

I did a little more digging for you on the subject and found this article.

Decided to revamp my subject line- the typo in the first one made me a bit crazy. 

A portfolio loan is a different loan type that is governed by the bank and not subject to conventional lending rules.