As far at MTR, I would probably look at somewhere with growing population, strong economy, diverse industries within a 2 hour drive where you have more control.

Hire someone professionally locally to work for you and oversee manage the project (a construction manager).Some examples I can provide having worked in the construction industry is - soda bottles filled with urine in the walls, food thrown in the walls, throwing coffee down duct risers, sheetrocked over outlets providing fire hazard...

Got connected with a local architect firm that's willing to take me on and teach me stuff about the industry!

I have been reading up a bit on how to creatively to this and I havetwo LLCs that operate in separate industries that I was hoping to leverageBelow is the plan I have1.

I’m new enough to the industry that I actually didn’t know I would have to personally finance the lot.

The current uses are: Production Industry - Artisan, Office, Office, 1br Apartment, vacant apartment, and a couple spaces that are not used by tenants.Thanks for the feedback. 

I was also researching on Johnstown, PA and what are the main industries (sources of employment) there and is the population growing or steady etc.

Requirements for becoming a lender will vary from state to state, but at minimum, whomever operates/manages the company will likely have to meet industry experience requirements and will need to meet capital/bonding/licensing requirements specific to Texas.

I just want to know if there is an industry standard or convention in this situation for how these things are divided up between the PMC and on-site management.

Yardi-Voyager is relatively ubiquitous in the industry, so this should be easy.