That is always fun to observe.

However, if you observe all the formalities of the LLC (e.g., hold meetings, have minutes, have an operating agreement, don't commingle funds, etc.), those claims are far less likely to succeed.

Yearly inspection/ maintenance call inspection HUD does an annual inspection, my goal is to pass that inspection the 1st time, once I receive notice for the inspection, I schedule my own inspection with the tenant prior to HUD inspection, so we can address any issues before the inspectionlastly, when the tenant calls for any maintenance issue, I use the same handymen, they are trained to observe when they go into the house and make me aware of any potential / possibility of neglect of the property by the tenant. 

In 2008 to 2010 as many folks choked on NPN's, risk assessments where high and investors wanted adequate compensation for the perceived risk.This same feedback has come from my observations and dealings as well as discussions and dealings with some of the top market guys like JP Morgan, WP Global and Citi.

I'll observe and be obsessed about investing this route.

Numerous initial and ongoing requirements must be observed, and the burden is on the seller to meet these.

We've observed that Leander is around 220-225/sq ft whereas Pflugerville is around 215-220/sq ft.

There would no doubt be real challenges associated with house hacking with kids present, however one of the greatest advantages of that (beyond financial) is that your kids get to observe you and your significant other making decisions that help you long term.Even if they are too young to understand all of the implications of that, they will understand later and you will have an opportunity to discuss the decision in more detail which is absolutely huge.All this said, have you considered getting a multi family unit where there's at least a wall up in between spaces?

The best way to get familiar with the process is to sit in and just observe one or two sales so you get a feel for the process.  

(Just my observations).