It can take 2-3 months before payments get approved. 

Dallas has to be meetup central.Two I like are NTAREI that normally meets on Thursdays maybe 1-2 times a month. 

It's much more affordable (you can get the $100 annual version instead of $300 per month like Appfolio).

I am new to rental appartment so wanted to get some advice, if I build a 7 unit appartment for $700,000, say mortgage of  $4000 per month.

If my spouse wasn’t opposed to moving I would try to buy a new house hack every 12-15 months and use low down payment owner occupied loans for as long as it made sense.

My low months were 50-65% occupancy and 100% for summer.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

Are you well capitalized and able to go 6+ months without making a dollar?

If I paid cash for this property, the HOA + Insurance + taxes is around $500 / month. 

You split the monthly proceeds assuming there are monthly proceeds, and upon exit in 3 years, you split the profit from the deal, again assuming there is any and everyone is evened up at that time.If you were pitching me on this, I would say no because you assume no risk.