Also do you have savings on the side to cover lender payment for atleast 6-12 months if you are unable to rent this thing . 

The plus side is you'll be able to get some of your capital back. 

On the flip side I've seen neighborhoods where we manage multiple units and the house is leased in less than 2 weeks.

We have a unique customizable fund platform that allows you to raise money one deal at a time instead of a blind pool fund that forces your investors to invest in each deal.

You will find many resource here that are more than willing to help you out with just about anything.I am a broker on the lending side of things and have a fairly solid presence in TX. 

Basically, I get very overwhelmed by the bookkeeping side of things.

Or am I expected to have that broker work both sides of the transaction?

On the refinance side you don't have any points/fees and depending on the type of loan you refinance that can be a substantial amount.

Looks fairly similar to some communities I know of on that side of town. 

They can be a bit on the pricey side and they can be selective on the development/construction side, but overall, they're solid.