I plan to continue investing in stocks but would like to diversify my investments by adding some passive real estate to the mix.I got my first taste of the lucrative nature of real estate when the landlord I was renting my downtown Seattle condo from decided to sell, and I was able to purchase directly from him without it ever being listed on the MLS.

Any bank or alternatives?

They may be an alternative as they don't look at income.  

The information presented here is general in nature and is not intended, nor should be construed, as legal advice for a particular case.

My favorites are Black Diamond which meets in Waltham and Worcester in alternating months, Chelmsford REIA (NEREIA), and Justin Silverio's quarterly meet-up. 

That usually happens more naturally though and won't work if it is not a good fit or if it is forced.Good luck.  

My only advice would be to be really aware of where you are flipping and the nature/desires/expectations of the buyers.  

I am aware of the alternative lending options lease options, partnerships, bank mortgages etc I am sure their is many more. 

In this situation, does he really have any acceptable alternatives?

Do explore why it is priced lower than its alternates.