Sometimes that might mean we'd accept a new easement or ROW that was better for the homeowner and still ok for us, as long as we didn't incur survey or recording costs and the homeowner would be responsible for overage, or if the water line work cost $100k on the existing spot and $150k in an alternate spot the homeowner would be responsible for the $50k overage.

Dayton could be a good alternative, offering similar price points.To narrow your options further, consider factors like population and job growth, cash flow potential, and the quality of neighborhoods you’d feel comfortable investing in.

Alternatively i could go for being a real estate broker and try to get experience in actual real estate without putting too much of my own skin in the game.

Alternatively, you go to Market B where you can achieve BRRRR'S and buy and renovate $100K houses, each appraising for $140K and you repeat this 4 times over the course of a 2 year period.

There could also be a change to the HOA by-laws eliminating the right to lease and alternatively if too many units are tenant occupied it could impact the warrantability of the financing which would be problematic if you wanted to sell the unit.

I think a conversation with the loan officer's manager to see if a compromise/alternative can be worked out may be beneficial. 

JD, I'd agree about cat pee.....it has something in it that will make you see Jesus, even with a respirator....But that house that had 9 dogs locked inside of it had this beautiful wide-plank flooring, Ponderosa Pine...unbelievably gorgrous.....I had it sanded once and got about 50% of the smell, twice, maybe 75 %....third time got 95%.Primer/paint did little.....finally had to have the walls and ceilings skim coated with new texture...throughout the entire almost 3000 SF house.

California's housing prices are too high for our budget, and I'm at a loss.I'm seeking your advice on alternative ways to use these funds for good.

Alternatively the debtor can payoff the note either in full or at a negotiated discount.  

I would look for a custodian who does not charge a fee based on your assets.I normally see the costs being A one time set-up fee along with an annual reoccuring fee.The thing you want when opening up an SDIRA is that the return that you will make with alternative investments will be greater than the fee that is charged to you for the SDIRA plus the return you would have likely gotten with a regular IRA.