The agent also mentioned that there is also the question of foul play that may come up, such as a scam.  

I feel like I'm folding a pair of pocket aces, but I have to play the game with discipline, or you lose your stake.

Again, this is like playing the lottery.

So, here at the 6 month check in, here are the things I've been doing since January 2024: *Anchored everything to my WHY, including the motivations and long-term strategy *Joined a local REI group hosted by my church*Researched tax lien investing in Harford County, MD and decided to not play in that space this year*Read a few REI books (Rich Dad Poor Dad, One Rental At A Time, Building Wealth One House at a Time, Wealth Without Cash, Building Real Estate Wealth in a Changing Market)*Subscribed to a bunch of good YouTube channels (BP, ORAAT, Ken McElroy, Coach Carson...)

That means yes, "pay-for-play".

Minimum bedroom square footage requirements come into play (a quick google search shows Texas having an 80sqft minimum size requirements for a single occupancy bedroom).  

I believe the play is to either improve the existing building and raise rents or the zoning allows for apartment buildings and the lot is considerably big, so maybe build new.

As Jonathan mentioned, this is a technique for experienced investors, not something a beginner should play around with.

Just your basic 20% down get a loan, etc.I know there are 84 other variables that come into play in making the decision.Does the think tank here have any general pieces of advice?

Having said that, they know how the game is played and that they are messengers for their clients whether that is the buyer or seller.