.- Do a 3.5% down FHA loan with the same qualification challenges as the conforming loan.

TxDot is requiring a portion of a property for ROW use.  Do we need to go through the whole condemnation process to qualify the transaction for a 1033 exchange? Or is a settlement before condemnation enough to qualify...

They will also dictate the terms of the loan, how it's filed, qualifications, etc.However, if you mean PML as in your friends/family that have NO experience in real estate and just have money sitting around...then I would certainly to counsel you to lean on some type of mentor or other experienced investor in Houston on what to do. 

If not, then I'd explore a line of credit, but that will also be a full doc qualification and you'd still have that variable interest rate.

Instead, the income (or potential income) of the property would be used for qualification.

If you are having that much activity but cannot find the right tenant than you will want to lower the price just slightly to entice better tenants OR you can relax on your qualifications.

Therefore, I prioritize pre-screening applicants to ensure they meet the qualifications before arranging a showing. 

-repeat the process every year by acquiring one house every year with the appropriate income qualification

Feel free to inquire about their staff qualifications if it's a larger organization.2.

Most part time and full time investors use these loans due to the simplicity and straight forward qualifications.