Focus on getting to know local, experienced Realtors in your town & offer to assist them for free so that you learn.  

Also, not looking for feedback about the value/necessity/negatives/ or need of doing a study.

If you are convinced this is the guru you want to follow, pick up a cheap resale on amazon or ebay...read and study it cover to cover. 

The kids can wreak havoc in a unit so more damage than the avg market-rate tenant. where I worked in Jackson ms and owned a few hundred section 8 houses.. the statistics for the amount of local residents on some sort of assistants is staggering..

While changes are normal, communication and transparency is needed throughout the process.Since you paid for the appraisal, you could seek a new lender that can give you more clarity and possibly better loan terms.I am in the Fort Worth area as well and I can provide you some reputable local lenders to can assist.

I saw two recent studies comparing rental costs to home ownership.  

@James Walker I would start with planning and zoning, assuming you've done that part and/or feel likely you can get it approved, then I would pay for a feasibility study from a neutral 3rd party. 

It involves using Section 179 or bonus depreciation, and I would not DIY this project, as distinction between repairs and capital improvements is one of the most confusing areas of the tax law.And no, you do not need a cost segregation study to deduct these components of your rehab - if you have itemized invoices and receipts.Myth 8: for a valid 1031 exchange, I must exchange STR for another STRNo, you don't.

@Randy Winzeler You are definitely still eligible for depreciation and a cost segregation study. 

Study the market.