Weren't little sister/little brother organizations disbanded, in large part, because they threatened Title IX exemption? If you allow a person of the opposite sex into a single-sex organization, you will lose the exemption altogether.
If you want to intitiate both men and women, it stands to reason that you should voluntarily become a co-ed organization. The only catch is that it's a lot harder to be selective as a co-ed org.
Most co-ed orgs I'm aware of have open membership where anyone can join as long as they meet minimum standards and present no major red flags; whereas in a Title IX exempt org, you have more freedom to pick and choose who joins.
And, there is definitely more than one thread about this issue on Greekchat.
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