If you want to be truly passive while living abroad you could consider a DST transfer or syndication where you transition your properties to professional management and get paid as a limited partner and not have to worry about any sort of property management takes.

It’s not limited to rentals, but since your parents-in-law's home is a primary residence and not a rental, it wouldn’t qualify for a 1031 exchange right now.

Living in one of the units is a great idea when starting out so you can limit your living expenses.

While there are some limits here (you don't need a pasta maker), asking about having a plunger in each bathroom closet is insane.

Ask the builder or their legal representative for a copy of the CC&Rs (Covenants, Conditions, and Restrictions) or any supplemental documents specific to the development.Financing Considerations: If you’re financing the property, some loan types have limitations on renting out a home within the first year.

@Bryan Stengel, I think alcohol has been the tough one with the STRs, not sure about if you need license( hopefully someone will chip in ) , however there  always the liability part including but not limited to offering alcohol to people who are trying to quit etc.

The biggest challenge seems to be finding lenders that offer these loan products which is where I’m looking for help from the community with recommended lenders that serve Texas.The Fannie Mae (or Freddie Mac) options are preferred over FHA purely because of the (perhaps perceived) limit on renovation funds that the FHA option provides.

Otherwise, you may be limited to doing deals that are less than or equal to the equity in your home, and miss out on some bigger opportunities.That said, fix-and-flip loans will have higher fees and interest rates than most HELOC's.

In my experience, most have limited product offerings.

Syndicated deals can be opaque, with high fees and limited control for passive investors.