My neighbor has numerous MF properties and he believes it will come in somewhere between 650 and 7. 

Since they are not common, or in any quantity to any area, they are hard to finance since they are hard to get comps. 

Since there is even less documentation to look at/review with this, pricing is a bit higher than your typical DSCR LTR/STR product, however, there are numerous ways you can structure the deal to make certain the #'s work for you.

There are numerous property tax protest companies in Texas.  

When I established my investor services business in 2005, I posed a similar question to numerous experienced property managers.

Underwriters want to see that the property is in an area that will support the valuation of the property with numerous comps so they can have confidence in the appraisal.

I've had to pull files numerous times from one lender to another and have credit repulled, but have never seen a different score come up (save if the new pull is 30+ days from the first). 

You don't cash flow a lot (and in some areas you may not cash flow), but over time the tenant pays down your mortgage and (hopefully) the house appreciates in value.Go for quality over quantity (ie don't buy a cheap home in a bad area.

There are numerous ways it could go awry.

Many women are petitioning against the year limit since 20k for 12 months is really not a lot of time; I've received numerous emails about it.