I have two thoughts.  1)  If you can convert your 401K to Self Directed IRA that may be an option to invest INSIDE your retirement account.   60K is much for buying a property but you could can lend it out to get 10%+ returns.  2)  Have you looked into a HELOC 2nd loan on you house? 

Start seeing homes and buy in a few months.The sooner you buy, the sooner you start the clock on lending to allow you to buy again.

I haven’t dealt with one on any of my deals while in my time lending but on the residential side gap funding comes up on a weekly basis.

I'm new to BP and trying to build a team as I dive into more frequent and long-term profitable REI.I've been doing SFH rentals over the last 15-18 years, but it's all been very traditionally financed (ho hum, 30 yr fixed) and as such has limited my ability to invest more frequently, and grow a portfolio.I'm here to learn how to use more creative financing strategies (private money lending, Sub-to, seller financing) to acquire 2-3 units (duplexes, tri) and 5+ multifamily properties. 

From there I would speak with a lender in/around Knoxville to see what lending options there may be for a new development.

Both you and your family members should meet with a lending attorney who understands lending law in your state.  

Managing flips or Airbnbs is a very hands-on experience, while investing in syndications or serving as a passive partner is much less so.

Typical lenders require at least 20% equity in the property before they lend.

We have a supply issue because banks stopped lending to builders other than one or two at a time for spec builds after the bust in 08 so they were limited in being able to grow the supply. 

I can buy real estate syndications and never pay taxes on the gains (Lazy 1031).