That is not true self-direction, however many self-directed custodians deal exclusively in alternative investments.

Results will vary by loan type and lender.An alternative that may resolve your dilemma is the use of a SD401(K), which allows far greater tax deductions than a SEP and allow you multiple routes to use the funds for real estate investment.

Previous home equity in the form is cash provides me with alternatives, including remaining a renter if that's what I decide to do.

Alternatively, you can also work with RBC/BMO/TD through their US subsidiaries.

I think it should come down to what your other alternatives will look like. 

So you can have higher costs than some alternative investments.There are perhaps a couple of exceptions to these ideas....one is if you think you will have enough money over time to buy most of the units in the complex. 

Odd question... does anyone know of any alternative routes for getting funding for a commercial property?

Alternative is to put my normal policy in effect and risk being canceled if they find he place empty.  

But as @Bob Okenwa said, it is a competitive market so you are going to need to look at some alternative lists. 

Alternatively, you can choose to give up this deal and work on the track record as @Rich Weese suggests.Good luck!