Examine your financial situation, taking into account your credit limit, savings, and accessible funding.

For example:If you could not invest in the field you were brokering, which situation would you chooseBroker of Multifamily and Investor in IndustrialBroker of Industrial and Investor of Multifamily  I would greatly appreciate any thoughts and insights.Thanks.   

Not a CPA though, this is just internet banter not tax or legal advice (disclaimer, I’m not a tax pro so speak to one about your individual situation).  

How would you approach this situation?

As a private lender would you pay the full 100%, or still do 75% Loan to Purchase price and have borrower put money in?

Still need to do our numbers but lifestyle given the current situation is a must.

Why wouldn’t you contact the tenant first and have a conversation about the situation to find out if there is a way to salvage the tenancy?

the best beginner options are a house hack or live-in flip - with that said though, i realize that (1) not everyone's life or family situation permits this, and (2) some markets have many more small multifamily properties than others. 

I also have a primary residence with nearly a JUMBO loan at a high interest rate and I own a vacation place in cash (small trailer not worth much money but i also own the land) in a different state that I pay RE taxes on. 

If I’m going to use a combination of hard money and conventional (maybe FHA) loans, I will need a LLC for hard money eligibility anyways.