Pearland is closer to Texas Medical Center.  

Established banks also have processes and procedures to follow when things go sideways.

The realtor said that the intention was be used as Medical.

What are some procedures/ steps that you've found useful?

We'll cut to the chase, here's our dirt.The Facts: Ages 51/44, Married, w/10 yr. old childOne steady income 45KOne low income & fluctuating (self employed only 2 years but growing slowly)Living/ renting in NJ (Very expensive market, 2 family units sell over 500K)Fair amount of debt 37K (Car loan, 2 CC, Medical bills)Just getting by each monthCombined 401K's =  150KMy 401 (100K) can be transferred with no penalty to a self directed IRA (I had opened up last year in hopes of using some cash to invest in RE) We are determined to get into REI however we're probably going to need some creative ways to do it with our current situation.

I am thinking that it can be used by a small medical practice, veterinary, dental. etc. 

As a banker this is risk we talk about all the time, it doesnt' matter when you have 4-5 units, or even 10 maybe, but as your net worth increases and the percentage of it is concentrated into one industry, one asset, and one location, that's risky. 4. inefficiency in procedure.

I’m closing on my ideal 4-plex near a major university and medical centers using an FHA loan.

Most students want to be close enough to walk/bike so the only way you'd be able to lure them away is to have really cheap rent, which wouldnt support the cost to build new.If you do build on the lot, then I think you'd have better luck marketing to the medical workforce. 

this house I'm looking at has been going through chapter 13 procedures for the last 5 years (yeah these people dragging out the inevitable).