Alternatively, 250k would get you the down payment on up to a $1.25m property.

Are there suitable alternatives?

Does anyone run into the challenge of Alternative Minimum Tax?

Alternatively, you could do a flat fee for one or both units.

To precisely assess each property's cash flow potential, a comprehensive financial analysis and due diligence process are necessary.In order to invest in Dallas, one should carry out extensive market research, establish connections with local investors, property managers, and real estate specialists; moreover, one should investigate financing alternatives, investigate possible investment properties, and give careful thought to property management.

Alternatively, you could explore options like cash-out refinancing to access equity while keeping low interest rates and established cash flow, or a 1031 exchange to defer capital gains taxes and reinvest proceeds into a similar property.

If multi-family isn't hitting the jackpot, explore alternatives like single-family rentals for potentially higher CAP rates, or consider commercial real estate options such as small retail or office spaces.

I invested in it, and it was an interesting alternative RE investment platform.

Assuming I was satisfied with the results I would have to decide based on my alternatives  

Additionally, exploring alternatives like legalizing the existing cellar apartment, if applicable, or renovating the current layout to increase rental income could be viable options.