Thank you76542 is going to be the best zip code to be in. 76543 you are going to want to tread carefully and be sure to check the specific neighborhood and street you are looking at. 76549 has 2 divisions that are very different.

Dealing with the accountant first, who cares?

I say, if everyone is talking about it, it's probably too late.Be careful not to reject someone's advice in a city you haven't heard of much.

I would be careful about doing something in an effort to "make positive cash flow".Section 8 has its pros but there are an equal number of drawbacks.

But unless they advertise the seller finance (and be careful as most are really bad deals), then you'll need to talk them into it.

Be careful of SVDP.

If the covenant specifically prohibits renting out rooms or STRs, you may be restricted from doing so.You should carefully review the covenants tied to your property to understand the specific restrictions.

Instead of lawn care, you have snow removal. 

Be careful about using your current home equity as a down payment on another property.

If you are taking care of things, any punitive damages would zero or very small.