Quote from @Jonathan Bock: @Armando CarreraProtection first... nothing elaborate is usually required.  

In areas like South DFW, challenges like limited inventory and high prices require creative approaches such as off-market deals, foreclosures, or properties needing updates.

Under the Corporate Transparency Act, LLC's are required to file a Beneficial Ownership Information (BOI) Report. 

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

As is was mentioned above Fannie/Freddie require 12 months before you can use the new value to walk away with cash.

I require tenants to replace consumables like refrigerator filters or HVAC filters.

Here's what I know based on general Fannie Mae guidelines and the specifics of your situation:PMI on HomeStyle Loans: Typically, PMI (Private Mortgage Insurance) is required on loans where the LTV is above 80%.

Hey Quentin, Here are my bits of advice:Prioritize Value-Add Opportunities: Focus on properties that require cosmetic updates rather than extensive structural repairs.

A new build should require much lower maintenance expense vs a 100 year old home.Hope this helps.

I’ve had experience with both traditional and private construction loans, and here’s my take:Traditional Lenders: The process can be slower with more paperwork and stringent requirements, but they usually offer lower interest rates.