You will need to find partners, you will need to travel to where you wish to invest, you will need to understand the ins and outs of the business by being actively involved and treating it like a business and not some super passive investment.If you don't want to do that work I suggest you just put that 200k into some sort of diversified mutual fund that can make you 10+% on your money without any of the work of real estate.At the end of the day this is just my advice and I'm only a stranger on the internet.

I'm looking to get involved in this space, too. 

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

Keep in mind magistrates deal with MANY MANY cases involving small issues so their rulings OFTEN may not follow the correct technical application of the law.

@Remisola Omodara per Texas law, you are only allowed one Homestead exemption at a time, so not sure how you had multiple ones filed.

However I am struggling to understand and evaluate the risks involved with cash out refinancing 2-5 years down the line.

That's right, only those willing to compromise.This is also why many so-called "creative financing" deals often involve low-quality properties.

The guests have a credit card on file and your policy should allow you to charge for damages or excessive cleaning.

We use Chase, and they have checked that our LLCs are registered and current on filings.

At present, the filing requirement is back on.