This may be challenging with both of you in full-time W2 jobs, but worth considering if one of you can transition to real estate part-time.Alternatively, the Short-Term Rental (STR) loophole offers another path.

It sounds like you've done a great job setting yourself up for options.

I ask because I've interviewed a number of general contractors over the years for my various real estate projects and am shocked at how the vast majority showed up to the job site to give an estimate in a vehicle that did not display their contractor license number or business name.Aside from this one issue, they'd often have great portfolios, long list of successful permits I could verify they pulled, great references, no complaints on their license, and had been licensed for over a decade.

Have some income coming in but not from a job.  

All of us have stable jobs and no other outstanding concerns.

So most likely, and please check me on this, I believe they will pay for the tenants rent for a year or so, but then, the tenant will have to get a job or go through a different government subsides program.

I'll always remember the day I quit my job and went full time.  

@blaine @Blaine Alger In general, you're right about blue collar jobs, but I do think that white collar jobs are on their way up in Waco. 

It helped I got to work through the options myself, a job benefit maybe haha.  

Something to consider is that you mentioned you had a day job so I’m assuming you’re not a real estate professional.