Alternatively, you can do much better by house hacking a 4 plex and still get an FHA loan. 

But there are alternative investments as well such as private lending, notes, tax liens.

Or alternatively, the homeowner dismisses the BK after stopping the sale and the process starts over.

@Victoria S.In terms of opening SDIRA or solo 401k, I'd solo401k has more advantages, but you have to ensure you qualify to open one up.As for the benefits, it allows you to diversify your retirement portfolio out of Wall Street into alternative assets. 

You may or may not have any cash flow but if the alternative is doing nothing you’ll probably be ahead. 

I'm seeing only two viable alternatives: Pay off the 1st with cash, finalize the split, then get a mortgage on one of the resulting parcels.Get an expensive bridge loanIdeally, we want low-cost residential financing on any long term financing that will remain in place. 

A third alternative is the property with way too low rents that the landlord hasn't raised in 10 years.

While it might be a hassle to find new trustworthy tenants with a steady income when dealing with multi-family properties, it’s better than the alternative.

@Andrew Gorgey - As always, like to pop in and let you know Opportunity Zones are also a great alternative to 1031 exchanges with some more favorable terms.

They just need to pay for their own beer and food :-)It's also super helpful if they can actually indicate on the event page I posed if they are coming, this way when I show up at the venue, or need to look for an alternate venue in the event of inclement weather, I know roughly speaking how many people to expect.