I own 5 properties with a combined equity of approximately 1.5 million.

You could do a value-add multi family that combines these two strategies. 

New York sellers/property owners, in my experience, have only entertained seller financing if the buyer is putting down 15-30% minimum.

It’s a 5 minute drive from a major entertainment district and near the crossroads of 2 interstates.

Playacar is way too far for that and it's a residential area without the eating, shopping and entertainment facilities that most renters want.

Or ANY different combination.

A combination of both?

The bankruptcy gets combined, in a way, with the house debt and could create a short sale, foreclosure, or more.

It’s combining the inflation numbers with the higher cost of credit/borrowing.

If someone sues you and wins, they can only take the LLC that owns the property that was involved in the lawsuit.Best: Using a combination of LLC and land trust to protect your rental properties.