@Kegan SchollFrom my experience, if you're a 22-year-old house hacker, Texas and similar markets can be great for room rentals thanks to population growth, strong demand, and tourism.

That makes a big difference in the answer to what Charles eloquently referenced regarding confidence in your ability to close. 

You may not have done your subject to purchase in a way that protects their future ability to borrow.

Expanding your portfolio, streamlining tenant management, diversifying income streams, building a network, and planning for growth are also recommended.

Red Rock Development spent $50 million building the 600,000sqft warehouse (that Amazon now occupies) without a tenant lined up based off the projected growth. 

For someone looking for diversification or steady long-term growth without getting too hands-on, your suggestion of buying and upgrading a rental property in a familiar and appreciating area makes a lot of sense.

So I would continue to hold the property - but I would be sure not to miss the ability to exempt the gain - so be sure to sell within 5 years.  

It's been a few years since I last updated the list of providers (there are older threads on this topic here on BP), but at last blush there were five trust companies offering the ability to write and service mortgages from registered accounts:B2B BankCanada Western TrustOlympia TrustEastern TrustCommunity Trust CompanyOf these, Canada Western and Olympia has the best offerings at the time.  

Then you have the ability to accept or reject their response.4.

The Austin metro was among the hottest destinations in the country for where people were moving last year, according to the latest annual ranking from U-Haul International Inc.Austin ranked No. 5 among the top U.S. growth metros in 2024, and Texas was the No. 2 state for move-ins — bested from the top spot after three consecutive years by South Carolina, according to data released Jan. 2 and Jan. 3.The Dallas-Fort Worth-Arlington area took the crown for the top growth metro in the recent list, followed by Charlotte, North Carolina (No. 2); Phoenix (No. 3); and, Lakeland, Florida (No. 4).