I have seen a lot of pro forma documents that say “rent at market - operating expense / cap rate=X value” when rents are clearly below what their calculation entails and operating expenses are likely more. 

It entails purchasing the property in cash and your LLC placing a lien on it for 70-80% of the ARV. 

But given your background and experience, I think the notion of finding an empty and off market big box and somehow re-tenanting it with a class A Corp entails a lot more dope smoking than I would be willing to entertain;)I’ll pass the bong over to @Joel Owens maybe he can chime in with his perspective. 

I don’t know the effectiveness of this method of marketing, but I’ll guess that a lot of it has to do with the quality of the offering, and all that entails.  

Im not exactly sure what that entails though.  

I'd be interested in learning what working with you would entail.

I don't know exactly what that entails, but I do understand real estate and building construction. 

My main concern is that I must reply to the civil summons within 21 days of being served and I want to make sure that can happen ...though I don't really know what that entails and I think it requires me to rely on the title insurance company to prep the lawyer in time for my response.  

If you are unable to find a property in ATX or in FL that will cash flow like you want it to once converted to a rental, that's when I'd consider investing in other markets, which would entail at least 15% down on a 1-unit property. 

If you have the time to put into managing for what ever that entails (marketing, rent collections, serving notices, etc) then once you have the process you should be able to sit back with ease.Several people here in the BiggerPockets self manage with no issues whatsoever.