BuddyPress.org

You can have two installs running. Of course, they have to be put into two different locals, used with a different database owner, etc…

The biggest problem you would run into would be if your server can handle the ram requirements.

I would not try this and expect performance ‘good enough’ unless I was on a dedicated hosting.

On a grid like ours, SOMETIMES we have to do a full on separate install. In these cases we also worry about our entire caching structure which bloats up considerably. A mitigation for this would be using S3 for storage, and we are moving our entire grid to the clouds. Our grid has been processor focused than storage (we started out as a high computational structure). Sorry for the off-topic.