At the time they had a real estate degree (they probably still do).

The process takes about the same amount of time since an appraisal and title work is generally still required before underwriting and funding the deal. 

What would you say to the first time investor looking to buy, rehab, rent, and refinance in Dallas?

So even though rents grow over time, if lucky it's a net-0 if holding for extended periods. 

As far as timeframe, anywhere from 21-45 days depending on how quick a borrower gets their docs to underwriting, how long the appraisal takes, etc.

Yes, they will do many things better than you, but some things it's not possible for them to be as attentive and quick responding as you.Also, no one's perfect, so keep tabs on them in general.Regarding holding or selling: why did you buy this in the first place?

ARK 7 can sell stocks within investors after minimum holding period.

Buy a quality property, stay away from the hood, rehab it as if you would move in, take your time picking a tenant, you'll be find.

This is a unique home and it actually has a full kitchen, 2 bed and 1 bath downstairs and I think it might be well suited as a very large vacation rental(entire home) or both floors being rented separately at some point in time.  

I often times bounce questions like this off my local RE attorney first and then move forward quickly.