Even considering a triplex that has a 1br or studio unit and then I could stay in there when i travel on a monthly basis and forgo the hotel experience which gets old after a while.Welcome to the to the official investor status :)

One needs to understand locations on a house by house basis, all things construction, particularly where to get materials and labor for a song, the ability to do work yourself if need be, how to deal with the city gov.

@John SuessAlthough I know college is not for everyone, I am still weary of someone who would want to forgo getting a higher education altogether, especially for someone who is just coming out of high school.

There is one line that states in the contract that, for an emergency, the PM doesn't have to obtain owner's written approval for go ahead.

You can have the contractors pay for the material but they will have their markup to account for going to lowes to make the orders and returns.

Somehow the deliberate decision to forgo working to build your own future because you are hoping to get aid from the government (and aid that you will in all likelihood have to repay) seems..... well kind of needy and dependant - especially with 12 years to plan.  

And what is the best option for using >80k cash in Texas if I were to forgo paying down PMI?

This allows me to delay refinance the property and forgoe the 6 month seasoning requirement.  

So for the years you'll be living there, you'll just need to pay $1k on top of your $1.5k rent on one side to cover your total operating costs, thus a discount from $1.5k, and you'll be gaining equity during that time.Side note-if you have 10%-I'd def consider Bethpage Federal Credit Union, they still do a 80/10/10 Mortgage/HELOC/Downpayment loan, which forgoes PMI, which is a total waste of money.

Should I be wrong or slightly misguided on these points, I always love constructive criticism, should someone down the comments line offer any.If you were to forgo the LLC, do you have another plan in mind, or just to assume the investment under your name?