Enjoy!

It allows you to rent out your property for additional income or use it as a seasonal getaway to enjoy the vibrant beauty of Mexico.

While I use it primarily for noise concerns (it alerts me for sustained +80 decibels), it's also handy for cigarette smoke and tracking temperatures (in addition to our Ecobee thermostat)- sensors on all exterior doors and possibly windows (which you might have via smart locks for the doors)- exterior camsA recent guest for reasons only known to them set the thermostat to cool and 60F in the winter (where it's currently a balmy 11F). 

Whie DOS lender risk may or may not be high, being ininsured is... well, enjoy your 'asset protection'.

Property management is not for the faint of heart, so glad to see you're enjoying it and thriving.

But when it comes to choosing or creating investments that will produce a return along with personal fulfillment or enjoyment, then I say it definitely matters what you invest in and where you invest.  

There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.

I'm a local real estate broker, investor, and manager (100+ rentals, mostly Airbnb/STR and multifamily).House hacking is a tried-and-true method and in Sacramento you can produce some meaningful income while enjoying the appreciation and tax benefits of owning real estate.

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

When the smoke clears after a sale, everything falls to the buyer's responsibility.