Most of the local banks offers me a 20 years/6%ARM (not a fan of ARM...) so it makes it tight to reach my expectations.  

In tight markets, this can even drive up prices, only to have the rate settle back down anyway.  

All the work is done upfront when buying the note then once it is acquired if you have a system in place and coordinate with your special servicer, servicer and attorney etc. your a manager managing them and checking in on making sure they are meeting deadlines.

It’s a very tight nit community I’m beginning to find out.

That's a pretty tight margin deal so make sure you have the numbers nailed down.

Last: the numbers are tight because of the Boston market, but i see this property continuing to increase in value over a long term (20+). 

.  :-)  Unfortunately no cool moulding or door knobs or anything of much interest... just the original fir floorboards (*beautiful* tight grain) we'll do something neat with.Been working on this project for 20 months or so - it's an urban subdivision and new home construction.  

I've given myself a deadline of purchasing my 1st property before the year is over.

(In which case, $25k would usually seem too tight!)

I want to have one lined up early enough in the process, but not so early that I get texts / emails every week to check out homes when I'm not ready just yet. 6) What kind of programs or options for assistance as a first time homebuyer in TX are available and should I be starting them now (well in advance of any time limit deadlines that could crop up if I wait)?