Buyer go to open house directly.We have this option in Minnesota now, and it looks like in 10 other states that I am aware of (California, Texas, Florida, Virginia, mostly the big population states).

Have you consulted with lenders to discuss your budget and options?

I have a couple of funding options on the table and I’d love to hear your thoughts:Funding Approach: I have capital partners who are willing to fund 100% of the project in exchange for 50% of the profits.

With my $1,100 monthly revenue, my 700 FICO, and my (likely) $55,000 in equity - what kind of options would I have to refi.?  

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

(And I know a wrap probably isn't the first option many would choose, but I'm in Texas so its really my only option)

What you want to avoid is a lengthy contract with extension options.

There are some good cash flow markets, TIC options and DSTs.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Have you and your wife considered exploring fully turnkey properties as an option?