I feel like I’m very blessed and lucky to be in my current situation and that I could be better utilizing my financial situation to build real wealth instead of clawing away at it annually via W2 wage income only (and saving only ~$70k/year).Unfortunately when I model out deals, with today’s cap rate environment, I can’t find anything that generates meaningful levered free cash flow.

Terms are important, lot rent amounts are important, utility expenses, tax, etc.

Personally, I have utilized VA and conventional loans over FHA, but you can run your numbers with different loan scenarios and choose what is best for you.

Are there any others out there who have utilized SFR buy and hold strategy in Texas that would be willing to share their story - pros cons etc.?

Too utilize the maximum value I would make this in to a single 4-5 bedroom house.

That’s ARV, , number of bedrooms, rents, expenses (including any utilities), conditions and estimated repairs costs, etc ...Why?  

There are many different formats but most have some things in common.

From a construction standpoint we have pretty much done everything other than pouring a foundation and hooking up utilities so it seems very doable to do this as the builder which would keep costs lower.  

I think the two most common avenues for beginners is either rehab and flip or buy and rent.

I guess she must just be using the word incorrectly...I didn't realize this was such a common problem.