Option 3 has the most flexibility and opportunity in it.Using a HML or PML to acquire good properties that need renovation is a great way to leverage your resources.

I'm hoping to be +750 cash flow by mid 2021.If you decide to keep, make sure that you have ($$$) flexibility to find the most affordable services and be selective with tenants.

This would give me the flexibility to give the owner what they want to walk away with, and have ownership of the property, but I just want to make sure that this is an option in Texas.

I think it also depends on the state of the property and your flexibility in your current job.

Also you don't have control over who is selling what and when, so the best advice is to start investing in something and remain somewhat flexible in what you're looking for.

However; depending on the area a one bedroom unit may be harder to sell as it offers less flexibility for guests, etc., but then again, because they are harder to find and there are those that can only afford one bedroom it may bring a good price per sq ft.  

Banks like this usually decide loans by a loan committee, and can have more flexibility. 

It's common practice for the city's plans to say one thing, but not immediately update the zoning.Some of these areas at the edge of downtown sometimes have very flexible zoning that was meant to accommodate large houses that have been turned into offices or apartments.

You have the flexibility to accommodate large or small groups.I have an external camera system to make sure no large parties are going on.

It’s way more flexible.