Given that I recently created a Series LLC here in TX, and there still doesn't appear to be straightforward options in this regard, I figured I would bring it up again. 

The question behind the question is that I'm trying to figure out how to communicate with property owners that have under-utilized assets.

Sounds like an unreasonable seller and the most likely reason for them not wanting an offer with a financing contingency is the property is in too rough shape to get financing on it (structural damage, fire damage, etc.) or won’t appraise anywhere near asking price.   

Now, you need to figure out how to find deals and pay for them.

Killeen is rough.

Have a plan in place up front rather than trying to figure things out on the fly as much as possible.

Quote from @Hector Espinosaor Espinosa: Quote from @Jared Smith: I would tell myself to figure out how to buy it if it is close to making sense and don't squabble over an extra couple thousand dollars that you are only paying 20-30% of at close anyways.

I don't think I need to have that exactly figured out on day 1 of my first rental purchase, I need to get into the game. 

What you might consider is finding a partner that has the development capacity, and figure out an equitable development cost and profit split.

Actually my $50mm figure above is wrong.