And indeed, this is an unusually honest tenant. 

In these uncertain and inflationary times real estate has given me a lot more peace of mind. 

They did give me leases to look at, but there were some other issues that arose to the point where I was uncertain whether I could make the deal work.Thanks @Ben Day.

While net listings can be legal in TX, they are unusual circumstances.Other options would be that the seller receives the difference  in sales price (eg the amount over $200k) when I resell, or some type of split of the difference.

Its not unusually to not have a disclosure for rental properties. 

That's unusual.....typically they offer special warranty deed. 

Anywhere from 20% to 30% is not unusual until you gain experience.  

Not unusual at all. 

Hi Adam, just one caution on the property management side: JP is the happy valley of renting right now...valuations and rent are at all time highs, most renters are solvent (half would love to buy there is just too little inventory) and the more transient tenants love the neighborhood too and have an unusual investment in its quality of life with the festivals, green space etc. 

Life is uncertain, and if something happened to my income and I had to move into one of my rentals that could always be an option.