I double "co-hosters" in most markets are getting 25-30%.If property management interests you I would suggest you become a licensed and insured PM company to increase your credibility. 

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

@Ed Hoffman  actually, you can transfer it via Quit Claim right there at the closing table before you leave the title company.

The parent LLC will have an umbrella company agreement or operating agreement that will state the company is authorized to create specific series. 

Being out of state, you will want an agent who has good relationships with reliable inspectors, title companies, contractors, property managers, lenders, wholesalers, insurance agents, other RE agents, etc.

Private placements are inherently risky by that very fact - they are not regulated or audited  to the degree that a publicly traded company is.  

I do think that you are right about Texas allowing them but many of the companies that offer them do not seem to have availability in Texas, including the ones that you listed.

Have them pay the repair company before closing with that much of your earnest money going hard in case you fail to close. 

That's 5 months of profit gone just because the insurance company wants it done.

If the buyer is an investor and or company, and no fiduciary relationship has been expressed or implied,  could they pay the 4th party a finders fee without any legal implications?