And one would have to get with the companies that produce these debt instruments to rewrite them.. most banks use the same providers for their legal docs.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

A deal that produced a 25% net IRR to investors with a 1% acquisition fee, 1% asset management fee, simply pref + single tier waterfall, etc, may only produce a 15% net IRR under the current fee and carry structure, if their acq fee went to 3%, pref went down, they now have a GP catchup and multi-tier waterfall giving them higher splits for higher returns, etc.

When the money dries up, they'll leave just as quickly as they arrived and you may be stuck with a real mess.If it can produce more money as a short-term rental, do it yourself.

Real estate investments (STRs, MTRs, live in flips) have produced my best returns by a good margin.

Do you have any other income producing assets? 

Consider selling the duplex to put it into a higher income producing asset (out of state, DST, something).

I'm curious how something like that would work with land that doesn't have an income producing rental on it yet? 

@Mark Allen Hopefully, this gold mine is still producing.

The hedge funds and firms alone are buying more supply than is being produced.