If it's option 1 I would recommend looking into a multifamily in a growing or very stable market that you know very well and have access to easily if its not a market in your back yard.If it's option 2 I would recommend vetting syndicators/sponsors and seeing who is investing in assets that align with you investment goals.

If you rolled an old-employer 401k into a new-employer 401k, you can access that portion that you rolled over.But if you buy real estate from your IRA, YOU ARE GOING TO HAVE TO GAIN SOME UNDERSTANDING of the limitations. 

They love bright, clean, modish spaces.

Sure, if you have a HELOC with a checkbook to access the funds, you can write a check for the EMD. 

My biggest unknown is not really knowing a lot of people who specialize in this space (i.e. attorneys, CPAs, general contractors), but asking around is how I got into my first JV. 

I would like to get his credit back in good standing asap so we can have access to more capital in the future.

They'll have painless access to both standard and surplus market policies and would likely be able to craft the right package for you quickly.  

What is the best way to find ALF's that are actively looking for more space?

I‘m not really sure what my options are bc I definitely do not want to sell the 4plex but need to access the equIty.

The DD period is a set time, allowing it to continue one minute past is not helping your client and the buyer going back in is essentially continuing the DD.Just my thought, It could just be NY though, how is that handled in your 3 states @Russell Brazil Absolutely no access for buyers outside the times to be there that are negotiated in the contract.