For example, are there specific documents or information I should prepare, or would identifying a target property first be more beneficial?

I would also add that you join your local REIA chapter (Real Estate Investor Association) as it will allow you to network with other STR owners and get more location-specific information. 

I'm not specifically familiar with BP's deal analyzer (I use my own).

Texas does have specific rules regarding home equity loans and cash-out refinancing (often referred to as "Texas Equity Section 50(a)(6)"), but these don’t prohibit homeowners from using funds for investment properties.

Are there specific qualities or terms you look for that make the relationship a good fit for your investment strategy?

Are there specific lenders or servicers that are more likely to call these loans?

But on this specific guy, I jumped on a call to explore the program and it was a high pressure sales call, it did not feel organic, not trustworthy and certainly did not feel the right fit.Why would someone spend 10k on a so niched-down space of real estate when they can get someone for the same amount to teach him/her everything?  

Without giving the individual's name, even though once it is filed it is public information, could you post the specifics they are alleging or the case number?

Do you include specific clauses in each of your subject to deals spelling out exactly how insurance on the property will be handled?

There are state specific items to take into consideration.