I know there is a minimum deal size though.More info here:https://www.biggerpockets.com/forums/51/topics/569293-can-i-use-100-bonus-depreciation-as-alternative-to-1031-exchange?

The alternative would be a 75% LTV on a cash out refi, which means I would get about 82.5k for reinvestment. 

I'm also trying to find out if my town does a free energy monitor which can be a cheap alternative. 

Alternately, a licensed professional such as another hard money lender could perhaps originate the loan with vetted paperwork and guide your friend. 

For that reason, they’ve put in place alternative ways homeowners can pay back the money owed over an extended period of time.Furthermore, the Mortgage Bankers Association released last week - 'The share of Fannie Mae and Freddie Mac loans in forbearance dropped for the 24th week in a row to 3.35%" Of the cumulative forbearance exits for the period from June 1 through November 15, 2020:30.5% represented borrowers who continued to make their monthly payments during their forbearance period.24.0% resulted in a loan deferral/partial claim.16.8% resulted in reinstatements, in which past-due amounts are paid back when exiting forbearance.12.9% represented borrowers who did not make all of their monthly payments and exited forbearance without a loss mitigation plan in place yet.7.1% resulted in loans paid off through either a refinance or by selling the home.6.8% resulted in a loan modification.The remaining 1.9% resulted in repayment plans, short sales, deed-in-lieus or other reasons.

There are almost always alternatives, especially if you (hopefully) were able to utilize your amazing VA financing on the purchase.

For ex through ally bank you can open up a checking account in 5min without speaking to anyone and be ready to go.

This reply proposes adverse possession as a potential alternative to buying the home.   

Hi @Eric Healy just like @Denise Brown-Puryear there are alternatives out there which have no personal income requirements at all for rentals. 

If possible I like to make it so that my long-term-fixed-rate debt is working for me on investment properties (like house-hacking, refinancing to pull equity out and put that into rental property investing, etc), but even if I wasn't going to "investify" my personal home I would find an alternative way to use my extra money that achieved a higher rate of return.If you invest, invest.