I'm interested in how others structure their ALFs.2) I'm thinking of going with an SBA 504 loan to acquire the property and do the remodeling.

I am not a big fan of selling assets once I have worked to acquire them. 

This property is being acquired at $79K per unit, a sharp contrast to comparable apartments in the area selling for ~$140K per unit.

There is a 2 family we are in talks with acquiring for 200k.

For example if I sold my business then used the proceeds to acquire another one or several? 

Are you looking to acquire any other properties to add to your portfolio?

Most properties seem to be overpriced, often listed by pro investors trying to unload them, and have been sitting on the market for six months or longer.While I could put 50% down to make the cash flow work, that approach would likely derail my goal of acquiring four units in four years.

They are designed to acquire, rehab, then get out of the loan quickly. 

Are you still acquiring rental properties?

If the client is in CA the community property state laws may help here (not entirely sure) depending on when the property was acquired but it would be a great question for an attorney as Jason mentioned.If they were married and went through a divorce it would be worth looking into how the divorce paperwork stated how that property would be handled.