If not, is there a viable alternative to the driveway? 

With such high incomes you may be better off as a group saving to a higher amount, say 40-60k+ each and syndicate a small/medium apartment complex together.Syndicating apartments may be a better alternative for you since you have so many people together as a group. 

(Alternate) -Good Neighbor University: Use all of the accumulated knowledge, guides, and trackers to teach new highschool graduates how to renovate and maintain a home, how to manage the entire accounting process (both personally and the business of their property).

PC term for "an alternative to prison for felonies."   

Alternatively, work through your local lumber yard.

Also, be very, very careful with any non-tenant staying there more than a day or two, because 'guest' can slide into 'legally protected squatter' alarmingly fast.For these reasons and others, I've become more interested in alternate renter pools - furnished bedrooms for travel nurses, professionals on temporary assignment, people with weekly gigs in Austin but who return to Houston on the weekends, etc.

It's very difficult due the nature and age and deferred maintenance on most of the properties you'll be looking at.Do your homework, take the online course under the education tag, listen to many of the podcasts, read many of the blog posts and guides, buy recommended books and learn more, ask questions in the forums, get as much value out of the time you spend on BiggerPockets as you can.

I agree with Joel that DGs in more suburban areas are more desirable due to the fact that there are some alternative uses in a more populated location if DG vacates the building after 10 years.

Cincinnati has recently implemented an alternative security deposit option for renter’s to pay.

Alternative housing has been growing since 2008.