There's a lot to learn...where to find NODs, how to search your county records, how long it takes to foreclose and how much time you have to contact your potential sellers, how to approach lenders if you need to (get a specific POA from the owner), what happens if the seller decides to declare bankruptcy, what to put on your contract, how to get and record the deed, if there is a second can you work a short, can you work the BPO, etc.  

To purchase a $320K property, you would need to have a minimum of about $150K in the plan.As @Darren Eadynoted, any future expenses associated with the property would need to come from the 401(k), so one always wants to be conservative when maintaining semi-liquid reserves within the plan to cover any unexpected costs.That said, the ability to leverage your tax-sheltered retirement dollars into a secure asset such as real estate, and receive a higher cash-on-cash return for your invested 401(k) funds is a great strategy when approached the right way.  

That second one was on market forever, brought down in $15-20K increments over 6 months.

I just have to figure out how best to approach the expensive city of LA.I can help anybody here with questions about cabinet making or kitchen design.

Michael brought a new prospective to the table I never thought of.

The issue of zoning was brought to my attention by some bp users, that's something I never considered. 

You might go for the fireworks stand approach.

We brought in a sponsor on the loan to increase our joint networth and liquidity.80ltv is possible but harder to find.

Whats the strategy and best way to approach a tired landlord?

If I take that same approach here, I am sure that I WILL be sitting on the sidelines.