With the lower LTVs offered by senior lenders these days, it may be tempting to look at preferred equity and it may make sense since technically it is cheaper than LP equity, but also keep in mind they have a higher liquidation preference (obviously) but will often want all the cashflow (or a majority of it) to come to them before the LP investors and will also want large reserves, so make sure you model out the cashflows and understand the end-to-end deal with the preferred equity investors.We have some institutional investors with whom we did a combination of a pref and JV deal and it worked quite well for everyone including them and the LP investors.

If he has tons of time on his hands and wants to get his hands dirty, flipping could be an option as well, with a combination of his money + private money. 

A combination of mortgage notes for cash flow and desirable properties in high appreciation areas (not cheap, undesirable properties in the Midwest.)

I would recommend a combination of a house-hack and an investment property depending on your current cash position, short-term and long-term goals. 

I would even entertain a temporary/contract job to show income.   

When an entity is structured correctly you’ll be able to qualify for deep tax deductions against your w2 income through the business combination structure ( A structure that qualifies an individual for deep tax deductions) 

Partner Driven financed this deal using a combination of private capital and partner contributions.

Partner Driven financed this deal using a combination of private capital and partner contributions.

Or a combination of both. 4 months on the market and lowering it to $1700 tells me that you might have a dump AND/OR your comps are WAY off.

Be sure to clarify the lender's stance on total CLTV (Combined Loan to Value) at 100%, as not all will accept this structure.