Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I have 3 homes managed by a property manager.

That person is typically very polished and gives all the right answers.

Typically homes in-between tenants, or a new purchase with intent to have renters within 30 days this is allowed. 

If they have 3-5+ experience those high leverages are typically available.

Do you typically take your insurance estimate, then multiply it by 3, and use that as an expense?

Hello @Hudson Filippi FHA does have a One Time Close construction loan that will allow you to build a home.

It is maybe a couple thousand dollar up-front cost for the developers to determine the viability of a project.I work with experienced developers, who could perform & gather all this data on their own if they really wanted to, but the value that an engineer brings on these is typically worth their time & small cost. 

Purchasing replacement property from a related party is typically prohibited except in very limited circumstances as outlined in I.R.C. § 1031(f)(2)(C). 

The profile of the typical Houston traveler is someone coming in for work.