In Texas, as a licensed agent, you’re generally required to use TREC-approved forms for real estate transactions unless an exception applies, like (I believe) leases longer than 1 year or where no TREC form exists.

Note I have no affiliation with them except I use them and they have provided me a great VA.

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

Partial or full doesn't matter (except see note below re: coming even on delinquent rent).The statute regarding notice for evictions states: "No judgment of possession shall be entered for . . . except in the nonpayment unless the landlord has made written demand and given written notice for delivery of possession of the premises.”

I’ve obtained all the necessary clearances except for the septic system.

There are several articles that do an exceptional job of explaining who, what, where, why and how tax payers qualify for the ‘STR Loophole’ listed here:The Short Term Rental Tax Loop Hole: A Game Changer for W-2 Wage EarnersThe Short Term Tax Rental Loop Hole: What Investors need to know The implications on the Oregon and California Coastal STR market is a strengthening buyer pool for luxury rentals in the $750-1.5M+ range.

Thanks Tanner,I'm definitely not able to do private money lending yet.

The builder offerred $15,000 credit to be applied, however you wished EXCEPT can not be used for price reduction. 

The demand letter does not go anywhere except in tenant's junk box or undelivered mail.

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