I am working through this structure with a number of clients right now from a tax perspective.I highly recommend Mark Fetzer at KKOS - I work with him often on these clients and he is set up to advise in Texas.

Your scattered approach is going nowhere fast (analysis paralysis) and is highly likely to result in someone taking advantage of you:(Recommend:1) Figuring out what investment approach suits your skills & risk tolerance2) Determining where in the US to apply your chosen approach3) Learning everything you can about that market4) Networking & building contacts & team in the market5) Doing a "test" investment in that market to make sure your expectations are met6) Investing more if your expectations are met.-- If not, go back to step #1 as you many have chosen the wrong approach!

If you have a lot of equity or if you bought the property when your credit score wasn't great (leading to a high interest rate), then it might make sense. 

That's not good for several reasons.One of those is that your HELOC is going to come with a pretty high interest rate and interest only payments.

Our project is a very large building that will be renovated into high-end dorms for students on this campus.

You may have read how this is possible (it is "possible"), but the costs to do it will be very high given your lack of experience and know-how.You are looking for someone to invest with you, but what is in it for them in this equation? 

I develop a high level scope of work and then make my own estimates for each item.

One was an ok-ish deal and the other was pretty decent.In 2020 I got excited about the auction but prices went too high.

When a tenant moves out and oil prices are high they wont get the tank filled .

My monthly fees are as follows (handyman inspection $125, Cleaning $270 a turn (I collect this from guest), TAT&GET (collected from guest) Property Taxes, Insurance (I highly recommend you price this out, with hazard I pay $1,200 a year), internet/cable $100, Electricity $300 a month, AOAO dues $900 (association fees are increasing minimum 5% a year).