There might be a couple of exceptions I can think of in DFW area. 

I would walk the property with a couple of GC's and let them give me an idea. 

I do have a few markets in mind that I’m interested in, including where I currently live and a couple of out-of-state spots that my partner and I love.

There are a lot of nuances with this type of investment, but between Padsplit, your GC, and an agent, they can guide you through your first couple successes. 

You could/should offer a small non-refundable EMD, say $5k if that’s equal to a couple month’s rent.

We are currently looking at a HUD home in Georgia - I have a couple of questions and can’t seem to find a definitive answer - The home is currently in the OO listing period - our plan would be to buy the home doing extensive renovations (the home is in a “Historical” area so renovations have to be approved) once completed we plan on living there full time - it could take ip to a year to complete or longer I don’t know  - as I see it the OO designation is to be the OO for a min of 12 months - is this after the home has been renovated or after you close on the home - though the house could probably technically be lived in now it does have some water and roof damage and needs complete redo of electrical and plumbing - for me to deem it safe - so not really livable by normal standards - but no way it would be livable in just a couple of months - any thoughts or an actual answer to the OO rules 

They will normally have some pre-payment penalties in the first couple of years but if you are keeping long terms that's not an issue. 

Most sponsors returned my initial message/email within a couple of days.

#1 I don't know anything about billboards, but I have considered purchasing land a couple of times that had them already in place. 

There are separate entrances and exits.I’ve decided to design them pretty much identically, minus a couple decor and furniture items.