From the experts in the community, what kinds of things about this property would make you want to seriously dig in further or even pull the trigger?

The tax docs list as a 2-unit but the owners + seller's agent insist they have zoning compliance paperwork that it's a 3-unit - our offer has a contingency on getting the zoning paperwork for a 3 unit.My question is related to the garden unit - what constitutes a legal bedroom?

Which will paint a big bulls-eye target on your back and make you a favorite of trigger happy lawyers, tenants and/or plaintiffs.But let's say you own 101 in 101 Main Trust, 202 in 202 Main Trust and 303 in 303 Main Trust - these trust being registered as the owners of these properties.

Texas is a verbal contract state...so even if you simply said it over the phone the applicant could pursue civil action and attempt to force compliance to the agreement.2.

Once I get to a point where I am ready to pull the trigger on one of these deals I'll get in contact with you and get your opinion 

Securities regulation compliance, transparency, investor vetting, professional competition from well financed competitors to name a few.  

Your W-2 income is going to be a huge asset and make it way easier to qualify for loans whenever you get ready to pull the trigger. 

That is hard to do in one year with minimum renovations.Be sure to line up all your ducks before you pull the trigger.

The final payment should be contingent upon final inspection (code compliance) and a final walk-thru.

I was asked about the issues with my credit and our compliance department waived any concerns.