If you are concerned about a 1M umbrella that, makes me think that your current policy is way too low for 10 houses.

The two are almost entirely different markets in terms of price points, returns, tenant quality, and overall investing strategy.

Niche- to me it is a Niche product from both location/market and also prospective buyers. 

There is a single family home in front, and in back there is a guest house/loft above a garage.

Quote from @Brandon Croucier: That’s a killer loan if they are actually offering that.Seems extremely below market value as even primary mortgages are higher than this right now.I would beware of a bait & switch on this. 

we have investors who are trying to decide between long term rentals on new builds and short term rentals on new builds in midwest markets in urban adjacent core neighborhoods. how are yours performing?

You’re in an ideal market for growth—DFW is full of active investors and countless networking opportunities through local meetups.

Option 3: Pay large down-payment on modest rent ready house. 

Coffered ceilings, low corner additions etc.Anyone can slap lipstick on a pig, looking for high value add in high demand markets is where the $ is.

You need a lot more pictures that showcase the great things about your house.