Another option if you both have self-directed IRAs is partnering them together. 

Other options?

For the last month I've been exploring the idea of dumping my 401k into an apartment building. 

This compliance issue is something I'm grappling with as I explore marketing strategies.I'm particularly interested in finding marketing companies that specialize in unique luxury properties.

Hi Brittany - @Samuel Eddinger provided you some great options for meet ups!

Thus, when the loan comes due, the property could easily be worth less than the loan amount, leaving the owner with very few options, none of them good.  

If you want to house hack, the best option in DFW right now is probably to buy 4-5 bedroom home and rent bedrooms. 

Disclaimer - I am not an CPA or attorney but I became financially free doing this for myself after 10 years working as a w2 engineer :( and I am sick and tired of seeing highly educated and hard working professionals getting stuck in the rat race because we deserve financial freedom and the option to do more with it.If you are able to implement a real estate professional status tax strategy (REP) you can use passive losses from syndication deals to lower your ordinary W2 income.

Pasco and Polk counties would be your best options for that.

He has a ton of units in and around Worcester and in similar areas and is licensed and able to help find off-market and on-market options where you want to look.