I actually have two clients right now seeking some evaluations due to flooding (we have had CRAZY rain the last month!)

Here's another key...we usually want to see that someone has done similar projects in the past...or at least projects of progressively increasing complexity. 

This will help inform what other factors you should be considering when evaluating the investment.   

We have a small 3 bd 1 bath home that is  in the path of progress.

Seeking guidance on:- Filter Criteria: Key factors for evaluating multifamily properties in Texas?

Multifamily homes often require more maintenance, so factor in potential repair costs when evaluating a property.

Again, I'm not local so I'm just taking every cost and push-back on progress at face value.It's $80 per door, per year, plus the one time inspection fee, which I was thinking was $180, but don't recall exactly right now. 

I agree it very important to reasonably evaluate the likelihood of the event vs the cost to set up protection against it.

I was told this would be an ideal package for me and would allow me to progress at my own pace to self learn about what I would need to to to maximize my tax deductions and would most likely include entity formation at extra costs. 

That's your evaluation.