Loan then early withdrawal

[Gmass]

I have ~$35k in a state pension system that I am going to roll into a 401k in the next week or so (I have left state service, will not be returning, and don't qualify for a pension).    

I have an opportunity to get into another investment opportunity that will require as much of this $35k as possible (real estate related). 

My current plan is to take the largest loan possible (likely 50%) then taking an early-withdrawal of the remaining balance.  Is this possible and is this legal?  How low can I run the account down to with an open loan? 

[401king]

Yes it's possible. Ask the 401k administrator for details.