The alternative is to go with a single-family home, live in it for about 1.5 years, and then purchase another home while renting out the first one.

Alternatively, happy to be a resource, run analysis on deals etc.

I'm California-based where there aren't any real deals in my area, so I'm exploring Detroit as an alternative real estate investment market - due to the combination of it being a strong market and my having connections in the area. 

I am trying to find an alternative model I might present to folks I know that inherit properties beyond the traditional sell it, or LTR it, without renovation for less money?  

Is there a alternate way to structure it, please suggest.

Alternatively, investing in money markets is another consideration.

Instead, an umbrella insurance policy may be a more cost-effective alternative for now.

If meaningful appreciation is on the horizon, its a different story.If you were to go the financing route, blanket loan may be your best bet through small local bank or alternative lender.

Open to hear alternate suggestions. 

Some options that might be viable for you include: Private Lenders – Such investors usually offer short-term lending but provide greater flexibility compared to a traditional hard money lender.Lines of Credit – Another alternative could be an excellent option to finance several deals at once using a business line of credit or HELOC (if it applies).