Good thing is they don't have rules about the interior remodeling (except the regular county permitting process).

Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.

(We use RingCentral, but you need scale to justify cost)We can do a quick review of your PM agreement, but we don't cohost.

Quick google search on Texas rules around entering YOUR rental property: "In Texas, landlords are required to give tenants reasonable notice before entering their rental property for an inspection, but the law doesn't specify an exact timeframe. 24-48 hr. notice is generally considered appropriate.

For tax purposes, it’s about whether you pass the 750-hour rule, the 50% rule, and meet the material participation requirements.

Equity paydown and modest appreciation would result in a small profit; not enough to justify a non passive investment but i will own a killer cabin.  

To justify the land cost (if I recall), you needed an already functioning property in the land and needed to add the Tiny home. 

I’m not looking for cash flow per se, but I’d like for the investment to justify taking out of my professionally managed stock portfolio which did 20% this year. 

And you’d know which houses to just abandon because even you can’t justify fixing them. 

So that rules out areas like City Heights / Skyline / etc.4) Parking - make sure you scope out the parking situation before you buy.