Once the time is right, with enough research, I would jump into a market (hopefully local if affordable) and get started.

Stairs are the only way to get in, no grab rails in the bathroom, ramps that are too steep, etc.From what I've read, all commercial businesses/buildings (including ones before the ADA was passed) have to comply with the rules, unless it would be outrageously tough to fix (like installing an elevator in an already built building).Are all these local business just not complying and taking the risk, or am I missing something? 

That said, I highly recommend speaking with a local professional in the DFW area to get insights tailored to your specific goals.

For the areas of interest (you are local so I'll say suburbs west of City Line Avenue) there are few and far between -and- have many investors sitting on large sums of cash to jump on anything that comes up (where I would be navigating a reverse 1031.) 

I'd make connections with realtors, join local meet ups and expand your horizon.

Just be sure to check local regulations because some spots are cracking down on STRs.

I'm looking at small multifamiles and won't have an issue with capital thankfully.I am in Arkansas and looking to stay local-ish initially.

Aloha Sino, id recommend a lender in your local area of Texas.

You will need their advice on your state & local laws to properly proceed.

Start networking with local agents and investors for insights, and talk to a lender to get pre-approved to understand your budget.