However, it has a pretty decent size kitchen which really helps make up for the smaller "living room" area. the 2 bedrooms are decent sizes, and everything is completely updated (new floors, paint, SS Appliances, Quarts countertop, cabinets, etc).

I have not had Voucher tenants before, I am thinking about asking double deposit as they are not making employment and salary criteria.

Outside of City services you will need to punch a well and depending on the size of the community maybe two. 

@Abdur-Rahman Felton My sister invests in Texas and has a mid-sized portfolio.

For utilities, you can estimate based on the size and type of the property.

@Tanner Lewis W2 was more in reference to your full time income regardless of whether it is 1099, self employment income, etc. 

Also, no "company towns" like Flint, Michigan or Gary, Indiana where a single employer can pull up shop and the town no longer has an economic driver.

I know it needs a few things (bathroom size) revised to make it code compliant, and I will need an architect to help navigate zoning (another thing we don't do in Houston :D), site plans, elevation aesthetics and local requirements. 

So I put years of work into renovating a couple run down buildings to provide apartments for people, did all the work myself and then was laid off my job.Since then I've been pursuing this dream of being self employed before its all over.

We tried to get info on the lender to ask directly but they wouldn't give it to us.I would have thought this would be a relatively quick process to do a credit check, check debt to income, employer verification, etc.current loan's interest rate is very low so they definitely haven't refinanced anytime recently.Additionally, having never assumed a loan before, anything I should keep an eye out for that might cause a hiccup?