But I haven’t identified the properties yet, which lenders usually want to see through a formal application. 

Many I work with require a minimum 8 x 8 bordered area on the drawing just for their stamps and have rules on font type, size, drawing scale, information on the title blocks, line types, line weights, etc.

This step involves sending formal information requests and setting up meetings or calls to discuss the sponsor's capabilities.

Price: $1.2MOffer: $900kI had my agent call to see if the seller would accept this price because it's been on the market for a year.The seller's agent said the owner had rejected a $1M offer in the past, but it's been awhile so maybe and asked for a formal offer with proof of funds and pre-approval.Why?

Closing the border (aka: upholding the laws of our country) would have a more significant impact on the housing market than stopping vacation rentals.

Julio,Just curious... have you been south of your border recently?

Home equity loans may not be obtained on land that is taxed as “open space” or as agricultural land.The loan may not close until twelve (12) days after the borrower has applied for the loan and has received a formal notice of the borrower’s legal rights.Not less than one day before the closing, the borrower must be given a final itemized disclosure of the actual charges associated with the loan, including actual points, fees, costs and interest.

Based on what I have heard/read thus far, it seems like I don't need a formal legal structure such as LLC for running this is as an active business (but I may set up an LLC for asset protection, which is allowed by my mortgage lender).

@Oren Kachel  We're getting growth due to increased cross-border trade, some oil money, as well as the general growth that Texas is seeing as a whole.

Also, it’s interesting to note that not maintaining corporate “formalities” is one indication of “disregard”.