If I have to sue or evict the tenant, a co-signer is of no use unless I can reliably FORCE them to pay.

I would say that markets do not go up indefinitely.The Great Financial Crisis and mortgage crisis was one that comes to mind quickly.Not many people saw that coming including myself.I learned how to do short sales during that period as well as foreclosure prevention.It forced me to learn new skills for a down market and like all crisis experiences you learn a lot about yourself and how to problem solve creatively.To Your Success! 

In practical terms, even if developers have more capital thanks to lower taxes, the increased costs for materials might force them to rethink project feasibility, adjust pricing strategies, or even delay or cancel projects altogether.

Legal Mistakes Can Lead to Lawsuits or Tenant ClaimsTexas has landlord-tenant laws on security deposits, repairs, evictions, and fair housing compliance.If you mishandle security deposits, maintenance requests, or notices, your friend could get sued or be forced to compensate tenants.Evictions require proper legal procedures.

I'm currently finishing up a duplex in William Land Park, where rents will cover costs, but the value add and forced appreciation will give me $250k in equity.

., I would do a search on here for Galveston and you will find some info.There are a lot of STRs there so you will be forced to compete on price so self managing is going to be the way to go.

One thing I have always loved about being a RE Broker is I am NEVER forced to work for anyone ever.. 

Buy the worst property in the best location you can afford, fix it up to the quality of the surrounding properties, and you can force a lot of appreciation quickly that way.

I find trying to force affordable housing on the private sector just keeps deals from happening so even though these are feel good intentions by the jurisdiction and they get brownie points for them..

Actually you'd never hit that because eventually the debt pushes you into a margin call and forced sell and you'd be at or near $0 in just handful of years at best.