I know the 5.7 is the preferred engine but is the 4.6 liter engine "bad"?

Thanks

I wouldn't be scared of it - that's a reliable Toyota engine. Both the 5.7L and 4.6L can develop a "cam tower leak" but it's nothing that would scare me. Both the 5.7 and 4.6 have timing chains, so that's an advantage over the older 4.7L 2UZ-FE. Depends upon what you want to do with it I guess. You'll get a little better mileage, still have plenty of power for most things (though you won't be able to tow as much), but you won't get as much for it when you sell it.

I have put over 230k on 4 different 4.6 engines and have never had any issues. It does not have as much torque as the 5.7. Gets about 14/15 in city and 19/20 on highway.

Owner Of Million-Mile Toyota Tundra Hits 900K Miles With Newer Truck

There are plenty of Lexus and Toyota models with this engine that have hit well over 300K miles.

Not bad at all.