Alternatively, you could check out Facebook marketplace listings and see what room listings are actually going for.Expenses could be different than long-term also.

I don't know how I would go through with narrowing down the long list of cities without doing countless hours of data analysis.

Going through the HELOC route probably sounds like the best thing considered, alternatively you could also potentially refinance - it depends on how much money you pull out and what you can handle monthly cost wise. 

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.